From the course: Data Science Foundations: Fundamentals

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Calculus

Calculus

From the course: Data Science Foundations: Fundamentals

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Calculus

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- [Instructor] You may have the best product or service in the world, but if you want to get paid, you've got to make the sale, and you've got to do it in a way that's profitable for you. Surprisingly, calculus may be one of the things to help you do just that. The idea here is that calculus is involved anytime you're trying to do a maximization and minimization, when you're trying to find the balance between these disparate demands. Let me give you an example of how this might work. Let's say that you sell a corporate coaching package online, and that you currently sell it for $500, and that you have 300 sales per week. That's $150,000 revenue per week. But let's say that based on your experience with adjusting prices, you've determined that for every $10 off of the price, you can add 15 sales per week. And let's also assume, just for purposes of this analysis, that there's no increase in overhead. So the idea here is…

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