optimization - Pricing Analytics in R , maximization of demand at an optimum price point -


hi have similar problem here. trying maximize sales find optimum price. have fit linear regression assuming linear relation ship between price , quantity , other variables (including dummy variablles) impacting quantity. taking regression function objective function includes price independent , quantity dependent.my prroblem in lp solver objective function becomes linear regression equation (y(quantity)=-0.02x (price) + constant (constant after taking scenario , intercept).

can me how can optimize above type of function ?

i have been struggling identify point of change in price maximizes quantity.i have tried manually putting drops , ups in price , arrived @ overall impact want avoid manual intervention here , therefore thinking if lp solver me.

thanks, avani

usually 1 first writes down mathematical model, , decide how solve it. not sure want, optimization model producer like:

 max profit = p*q - c*q  q = -0.02 p + constant   p, q >= 0

where c unit cost. p , q price , quantity. quadratic model (p*q) need more powerful lp solver. (although small example can hand). there of course many other models possible.


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