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Algebra project - produce a rock concert

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BME(Pain) Olympian’s Task: 

BME(Pain) Olympian’s Task Samuel You Justin Nguyen

Task 1: 

Task 1 The objective to task 1 is to compare revenue to tickets sold. Our variables are “R” (Revenue at the cotton bowl) and “n” (number of tickets sold). We assumed that ticket prices are $20 and we figured that revenue equals prices times number of tickets sold. (R=20n)

Revenue Model: 

Revenue Model

Revenue Graph: 

Revenue Graph You can see that the Revenue varies directly from the number of tickets sold

Task 2 : 

Task 2 The objective for task 2 is to figure out the costs for the concert. (F) Total Costs (C) C= V + F C= mn + F V (variable costs), F (fixed costs) Unit Cost- cost per attendent (m)

Fixed costs(F): 

Fixed costs(F) Ms. Teak at Cotton Bowl Dixie Chickens Cotton Bowl Ms.Teak $75,000 Dixie Chikens $88,000 Cotton Bowl $75,000 Cotton Bowl $75,000 Other +$55,000 Other +$55,000 Total $205,000 Total $218,000 Dixie Chickens at Starplex Dixie Chickens $88,000 Starplex $60,000 Other +$55,000 Total $203,000

Variable Cost (V): 

Variable Cost (V)

Variable Cost Models: 

Variable Cost Models Assume 15,000 attend

Variable cost models continued: 

Variable cost models continued Assumption that 13,000 attend

Cost Models: 

Cost Models Ms. Teak at Cotton Bowl

Dixie Chickens at Starplex: 

Dixie Chickens at Starplex

Dixie Chickens at Cotton Bowl: 

Dixie Chickens at Cotton Bowl

Ms. Teak at Cotton Bowl : 

Ms. Teak at Cotton Bowl .

Dixie Chickens at Starplex: 

Dixie Chickens at Starplex .

Dixie Chickens at Cotton Bowl: 

Dixie Chickens at Cotton Bowl .

Task 3: 

Task 3 The objective to task 3 is to find out the profits we can make from the concerts. Profit=Revenue – Cost. m=unit rate. n= number of tickets sold. V=mn Break even point- the point where profit is neither greater of less than zero

Profit model: 

Profit model

Costs: 

Costs Fixed Costs Revenue(r)=20n Cotton Bowl $75,000 Who’s that $48,000 +Other $55,000 Total $178,000 Breakeven (profit= 0+ R=C or 20n or 4.5n+ 178,000 Variable Cost 4.5n + 178,000= 20n $4.50 per ticket 178,000 = 15.5n Total Costs C = 4.5n + 178,000

Profit & Break Even Model: 

Profit & Break Even Model .

Profit Model: 

Profit Model . As Tickets sales increase the profit made increases

Task 4: 

Task 4 The objective of task 4 is to find the sales demand between tickets sales and ticket prices. n (number of tickets sold), p (price of tickets), and n=-250p + 27,740.

Sales Demand Model: 

Sales Demand Model n= -250p + 27,740

Dixie Chickens at Starplex: 

Dixie Chickens at Starplex Sales demand information: $20 ticket prices= 20,111 tickets sold $70 ticket prices= 12,800 tickets sold Slope= 20111-12800 = - 146.22 20-70 y- 12800= -146.22(x-70) Y= -146.22x+ 23035.4 n= -146.22p+23035.4

Sales Demand model: 

Sales Demand model (n=-146.22p + 23,035.4)

Sales Demand graph: 

Sales Demand graph .

Revenue Graph: 

Revenue Graph .

Task 5: 

Task 5 The objective task 5 to sum everything up for Sam, ticket prices, ticket sales, revenues generated, total costs, and profit. We’re suppose to assume that Dixie Chickens are at Starplex.

Who’s that? at Starplex: 

Who’s that? at Starplex Most Profit

Who’s that? at Starplex: 

Who’s that? at Starplex Highest Profit is $558,500 with 13,000 tickets sold

Who’s that? at Cotton Bowl: 

Who’s that? at Cotton Bowl Most Profit

Who’s that? at the Cotton Bowl: 

Who’s that? at the Cotton Bowl Highest profit made is $599,000 with 14,000 tickets sold

Ms. Teak at Starplex: 

Ms. Teak at Starplex Most Profit

Ms. Teak at Starplex: 

Ms. Teak at Starplex Highest Profit made is $543,407 with 9,714 tickets sold

Ms. Teak at Cotton Bowl: 

Ms. Teak at Cotton Bowl Most Profit

Ms. Teak at Cotton Bowl: 

Ms. Teak at Cotton Bowl Highest profit is $572,000 with 14,000 tickets sold

Dixie Chickens at Starplex: 

Dixie Chickens at Starplex Most Profit

Dixie Chickens at Starplex: 

Dixie Chickens at Starplex Highest profit is $535,437 when 9,714 tickets are sold

Dixie Chickens at Cotton Bowl: 

Dixie Chickens at Cotton Bowl Most Profit

Dixie Chickens at Cotton Bowl: 

Dixie Chickens at Cotton Bowl Highest Profit is $599,000 with 14,000 tickets sold

Scatter Plot for Starplex: 

Scatter Plot for Starplex

Suggestion for Sam: 

Suggestion for Sam Our suggestion for Sam: Band: Who’s That Location: Cotton Bowl Price of ticket: $60 Profit to be made:$599,000

Please Give us a: 

Please Give us a

Slide43: 

100!

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