The goal of every buyer and manager is to run a profitable business. In a dynamic business environment, the ability to address opportunities and liabilities quickly can make a huge difference in business results. Understanding business mathematics, the data that each calculation provides, and how to analyze that data, are crucial skills for successful buyers and managers.Instructions:Use your experience and outside research to answer the following questions:Compare and contrast the ways buyers and managers use business mathematics formulas to evaluate profitability in their product area or business.What is the best way for buyers to use business math to make sure they do not buy too much/too little merchandise?What conclusions can be drawn by comparing competitors' pricing to pricing for the same or comparable items in your business?Explain at least two ways in which business mathematics is used to determine which products are driving the majority of a store's business.Compose your answers with one - two paragraphs per question (4 - 8 paragraphs total).Research and use at least one outside source to support your conclusions. You must give appropriate credit to the source of the material.