logging in or signing up lee smsalgebra Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 66 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: February 20, 2008 This Presentation is Public Favorites: 0 Presentation Description Algebra produce a rock concert project Comments Posting comment... Premium member Presentation Transcript Slide1: By: Samuel Lee, Arjun Merchant, Sachit ShrivastavSam 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: 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: $88,000What 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-CWhat 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+21,428.57Variable 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: $218,000Next Step to Solution: Next Step to Solution After that, we calculated the revenue & cost for each band at each location Then, we subtracted the revenue by the total cost using the equation P= R-CWho’s That at the Cotton Bowl: Who’s That at the Cotton Bowl (60, $584160.7) ProfitMs. 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 ticketAcknowledgements: Acknowledgements Thanks for your time and hope we make your concert… THE CONCERT OF THE CENTURY!!! You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
lee smsalgebra Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 66 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: February 20, 2008 This Presentation is Public Favorites: 0 Presentation Description Algebra produce a rock concert project Comments Posting comment... Premium member Presentation Transcript Slide1: By: Samuel Lee, Arjun Merchant, Sachit ShrivastavSam 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: 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: $88,000What 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-CWhat 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+21,428.57Variable 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: $218,000Next Step to Solution: Next Step to Solution After that, we calculated the revenue & cost for each band at each location Then, we subtracted the revenue by the total cost using the equation P= R-CWho’s That at the Cotton Bowl: Who’s That at the Cotton Bowl (60, $584160.7) ProfitMs. 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 ticketAcknowledgements: Acknowledgements Thanks for your time and hope we make your concert… THE CONCERT OF THE CENTURY!!!