# lee

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Category: Education

## Presentation Description

Algebra produce a rock concert project

## Presentation Transcript

### Slide1:

By: Samuel Lee, Arjun Merchant, Sachit Shrivastav

### Sam Arteste A.K.A Sam the Scam:

Sam Arteste A.K.A Sam the Scam Sam Arteste is preparing for an upcoming concert and wants to decide what the ticket prices should be in order to make a decent profit

What We Already Knew Arena capacities Cotton Bowl: 25,704 Starplex Amphitheater: 20,111 Performer prices Who’s That: \$48,000 Ms. Teak: \$75,000 Dixie Chickens: \$88,000

### What We Already Knew (Cont’d):

What We Already Knew (Cont’d) Arena prices Cotton Bowl: \$75,000 Starplex Amphitheater: \$60,000 Other costs Advertising: \$30,000 Ticket Agency: \$25,000

### Variables Used:

Variables Used R = revenue p = price of tickets n = number of tickets V = variable costs F = fixed Costs m = unit rate for variable cost C = total cost P = profit

### Equations Used:

Equations Used R= pn V= mn C= V+F P= R-C

### What We Did:

What We Did To help Sam, we decided to make a profit model for each performing group at each location We did this by finding the revenue and the total costs and then placing those solutions into the equation P= R-C to find the profit

### Tables:

Tables Starplex Amphitheater Cotton Bowl Linear Regression: n= -248.21p+28,571.43 Linear Regression: n= -146.43p+21,428.57

### Variable Costs:

Variable Costs Variable Costs were the costs that changed according to the number of ticket sales We calculated the unit rate, which was 4.5, for the equation V= mn

### Fixed Costs:

Fixed Costs Starplex Amphitheater Who’s That: \$163,000 Ms. Teak: \$190,000 Dixie Chickens: \$203,000

### Fixed Costs:

Fixed Costs Cotton Bowl Who’s That: \$178,000 Ms. Teak: \$205,000 Dixie Chickens: \$218,000

### Next Step to Solution:

Next Step to Solution After that, we calculated the revenue &amp; cost for each band at each location Then, we subtracted the revenue by the total cost using the equation P= R-C

### Who’s That at the Cotton Bowl:

Who’s That at the Cotton Bowl (60, \$584160.7) Profit

### Ms. Teak at the Cotton Bowl:

Ms. Teak at the Cotton Bowl (60, \$554160.7)

### Dixie Chickens at the Cotton Bowl:

Dixie Chickens at the Cotton Bowl (60, \$541160.7)

### Who’s That at the Starplex Amphitheater:

Who’s That at the Starplex Amphitheater (80, \$570428.6)

### Ms. Teak at the Starplex Amphitheater:

Ms. Teak at the Starplex Amphitheater (80, \$543428.6)

### Dixie Chickens at the Starplex Amphitheater:

Dixie Chickens at the Starplex Amphitheater (80, \$530428.6)

### Maximum Profit Earned:

Maximum Profit Earned

### Our Recommendation:

Our Recommendation Who’s That at the Cotton Bowl with \$60 per ticket

### Acknowledgements:

Acknowledgements Thanks for your time and hope we make your concert… THE CONCERT OF THE CENTURY!!!