Develop a spreadsheet model for Problem 5 in Chapter 1. Apply the principles of spreadsheet engineering in developing your model. Use the spreadsheet to create a table for a range of prices to help you identify the price that results in the maximum revenue.
Classify each of the data elements in the Sales Transactions database (Figure 1.1) as categorical, ordinal, interval, or ratio data and explain why. Sales Transaction database; Customer ID, region, payment type, transaction code, source of the sale, amount, product purchased, and time of day.