What exactly is the algorithm/formula/calculation method for calculating:
What will be my caps/min when selling X amount of Y-items in a store?
What will be the time taken to sell X amount of Y-items in a store?
And How will quality of item affect the time taken to sell the Y-items?
Stores, Profits, Caps/Mins...
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It has never been published.
I came up with a close approximation of the price / time curve but even that takes some shortcuts and I'm afraid I've decided to keep it private.
As a rough rule of thumb, I tend to assume each extra 1q is about a 10% bump in price. That's very approximate however, and you get the biggest moves when you are closer to the average: moving from -8 to -7 isn't as good as moving from -1 to even.
I came up with a close approximation of the price / time curve but even that takes some shortcuts and I'm afraid I've decided to keep it private.
As a rough rule of thumb, I tend to assume each extra 1q is about a 10% bump in price. That's very approximate however, and you get the biggest moves when you are closer to the average: moving from -8 to -7 isn't as good as moving from -1 to even.
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Oh that I can answer:nikhilm92 wrote:I am asking this because I would like to know what my price should be and how items to sell in exactly 24 hours with maximum profits.
Please help
http://www.forum.kapilands.com/viewtopic.php?t=4219
That and other helpful threads are linked in a sticky called "The Guide to Guides" in this forum. When you get a chance you might want to browse it for other tips, but this one thread linked here in particular should answer your question.
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yes, well the formula is that there is not formula.
The price is largely bases on a the amount of goods also on the market at the same time, the quality of those goods and the amount of those goods and if demand has been exceeded.
There is also a geographical variable involved as well.
But the server updates each hour, so products will be added and others sold out each hour so the amount, price and quality will always change.
But you if you want to know the best price to sell goods at, I can tell you how I do it, keeping it in mind it will change for each hour.
Just enter in a variety of prices and keep notes on the times it takes to sell.
for instance I can sell 8000 milk in my store.
So see how long it takes to sell at $1, at $2, at $3, at $4, etc.
It is a variation on the supply and demand curve but you can also use the same supply and demand curve for just about everything, production and quality, price vs time, jobs and unemployment, any competing factors.
If you really wanna be tricky you can even graph the changes.
put price on one axis and time on the other, then you will see a curve form on the graph paper, thus call the supply and demand curve.
What you want to aim for is the center of the curve for the optimum price.
You could also do the same thing for different qualities.
by that I mean the same graph for each quality or instead of price and time you could make a price and quality curve or a quality and time curve, assuming you have different quality of good at hand.
Granted these results will always change from hour to hour but you'll get a good basis for your products and if you do gather enough information this way you can even find or make a formula for yourself to determine the base calculation without user variable input.
I'm just too lazy to go threw all that now unless I get real board and can figure out how to make graphs on my computer.
Seems that Microsoft really hates graphs because they include just about everything else in microsoft word and microsoft works but graphs but I guess I'll do one just to give you an idea.
8000 Q3 Strawberries in France.
So it looks like somewhere in between $6-$7.
If you want to know the cents you can do a more detailed graph.
but you wanna look for the point just before it drastically increases.
and an hour from now it will change but gives you something to go by to use for different goods in your stores.
my prices stay relatively the same, give or take, unless something drastic happens but you'll be able to tell if your gas or whatever suddenly jump in time at the same price and you can figure a new chart, graph.
This one was not so obvious but I'm sure with other goods the optimal price will be more apparent.
The price is largely bases on a the amount of goods also on the market at the same time, the quality of those goods and the amount of those goods and if demand has been exceeded.
There is also a geographical variable involved as well.
But the server updates each hour, so products will be added and others sold out each hour so the amount, price and quality will always change.
But you if you want to know the best price to sell goods at, I can tell you how I do it, keeping it in mind it will change for each hour.
Just enter in a variety of prices and keep notes on the times it takes to sell.
for instance I can sell 8000 milk in my store.
So see how long it takes to sell at $1, at $2, at $3, at $4, etc.
It is a variation on the supply and demand curve but you can also use the same supply and demand curve for just about everything, production and quality, price vs time, jobs and unemployment, any competing factors.
If you really wanna be tricky you can even graph the changes.
put price on one axis and time on the other, then you will see a curve form on the graph paper, thus call the supply and demand curve.
What you want to aim for is the center of the curve for the optimum price.
You could also do the same thing for different qualities.
by that I mean the same graph for each quality or instead of price and time you could make a price and quality curve or a quality and time curve, assuming you have different quality of good at hand.
Granted these results will always change from hour to hour but you'll get a good basis for your products and if you do gather enough information this way you can even find or make a formula for yourself to determine the base calculation without user variable input.
I'm just too lazy to go threw all that now unless I get real board and can figure out how to make graphs on my computer.
Seems that Microsoft really hates graphs because they include just about everything else in microsoft word and microsoft works but graphs but I guess I'll do one just to give you an idea.
8000 Q3 Strawberries in France.
So it looks like somewhere in between $6-$7.
If you want to know the cents you can do a more detailed graph.
but you wanna look for the point just before it drastically increases.
and an hour from now it will change but gives you something to go by to use for different goods in your stores.
my prices stay relatively the same, give or take, unless something drastic happens but you'll be able to tell if your gas or whatever suddenly jump in time at the same price and you can figure a new chart, graph.
This one was not so obvious but I'm sure with other goods the optimal price will be more apparent.
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http://en.wikipedia.org/wiki/Variable
http://en.wikipedia.org/wiki/Maxima_and_minima
(Absolute maxima means global maxima too.)
Its all fundamental mathematics which I did in high school.
http://en.wikipedia.org/wiki/Maxima_and_minima
(Absolute maxima means global maxima too.)
Its all fundamental mathematics which I did in high school.
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OK, try these might be helpful as well.knnbccbkpkb wrote:http://en.wikipedia.org/wiki/Variable
http://en.wikipedia.org/wiki/Maxima_and_minima
(Absolute maxima means global maxima too.)
Its all fundamental mathematics which I did in high school.
I only took one semester of micro economics in College and got a D mostly cause I was in Jail for a DUI during my final exams but it is all pretty basic.
I'm sure I would have passed if I could have taken the test on it, back then that is. It was about 15 years ago, so I've forgotten a lot.
http://en.wikipedia.org/wiki/Microeconomics
http://en.wikipedia.org/wiki/Macroeconomics
http://en.wikipedia.org/wiki/Supply_and_demand
sort of what you are saying but a lot more detailed.
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Are you talking to me?Knolls wrote:By the way I thought you were great in The Prince of Tides.
That's not Nick Nolte on my banner it's michael Douglas from the movie "Falling down"
http://www.imdb.com/title/tt0106856/
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Ah, so it is! I'd been wondering. I've seen the movie but I didn't recognize him. It's rather cathartic for anyone who's tried to order an Egg McMuffin at 10:55 and been turned away.dbsuma wrote:Michael Douglas from the movie "Falling down"
No the Nick Nolte things was my weak attempt at a DUI joke, since I figured Lindsay Lohan would be too much of a stretch.
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