Lyntex Labs wants to estimate its sales response function that relates the revenue from sales of a certain drug to the number of sales calls made. Company experts estimate the revenue that would be...

Lyntex Labs wants to estimate its sales response function that relates the revenue from sales of a certain drug to the number of sales calls made. Company experts estimate the revenue that would be obtained in the following five scenarios:

The resulting estimates appear in Table 8.3. Note that the current sales effort is 350,000 sales calls. Also, all sales revenue estimates are expressed relative to an “index” of 100, where 100 represents the current level of sales revenue. For example, the experts estimate that if sales effort is cut in half, sales revenue from the drug will decrease to 68% of the current level. Lyntex assumes that its sales revenue function is of the form in equation (8.1). It wants to find the constants a, b, c, and d that provide the best fit to the estimates in Table 8.3.

Objective To use Evolutionary Solver to estimate the assumed S-shaped relationship between revenue and sales force effort, as measured by the number of sales calls.