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admire

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Information about admire
Education

Published on February 19, 2008

Author: smsalgebra

Source: authorstream.com

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FBI Warning:  FBI Warning Slide2:  ath © The Three Mathketeers ÷ × ⁼ Mathematical Modeling with Linear Equations:  Mathematical Modeling with Linear Equations By: The 3 Mathketeers Cheryl Gray, Arix King, and Josh Admire Task 1: Revenue Model:  Task 1: Revenue Model The purpose of task one is to create a revenue model using the capacity of the Cotton Bowl and a ticket price of $20. Task 1: Revenue Model:  Task 1: Revenue Model Task 1: Revenue Model:  Task 1: Revenue Model Slide7:  Equations: R=20n n≤25,704 n≥0 Variables: R=revenue n= # of tickets sold Revenue Data Table Revenue # of tickets sold Revenue Graph Task 1: Revenue Model:  Task 1: Revenue Model Random Reminder:  Random Reminder The Three Mathketeers 3 Task 2: Building a model for cost:  Task 2: Building a model for cost Task 2: Building a model for cost:  Task 2: Building a model for cost Task 2: Building a model for cost:  Task 2: Building a model for cost Task 2: Building a model for cost:  Task 2: Building a model for cost You also know the number of attendees per worker and the daily cost per worker for each labor group. By adding all of the unit rates you come to a total unit rate of $4.50 Task 2: Building a model for cost:  Task 2: Building a model for cost By adding all of the costs you come to a total cost of $67,500 Task 2: Building a model for cost:  Task 2: Building a model for cost By adding all of the costs you come to a total cost of $58,000 and when you add the unit rate the cost is $57,600. This is because you can’t have part of a labor group. Task 2: Building a model for cost:  Task 2: Building a model for cost Task 2: Building a model for cost:  Task 2: Building a model for cost Equation 4.5X+205,000 # of tickets sold Total cost Task 2: Building a model for cost:  Task 2: Building a model for cost # of tickets sold Total Cost Equation 4.5X+203,000 Task 2: Building a model for cost:  Task 2: Building a model for cost # of tickets sold Total Cost Equation 4.5X+218,000 Task 2: Building a model for cost:  Task 2: Building a model for cost Random Reminder:  Random Reminder Task 3: The Bottom Line:  Task 3: The Bottom Line Task 3: The Bottom Line:  Task 3: The Bottom Line Task 3: The Bottom Line:  Task 3: The Bottom Line Task 3: The Bottom Line:  Task 3: The Bottom Line Task 3: The Bottom Line:  Task 3: The Bottom Line Task 3: The Bottom Line:  Task 3: The Bottom Line Slide28:  Variables: P=profit R=revenue C=cost Equation P=R-C Profit Task 3: The Bottom Line:  Task 3: The Bottom Line Tickets sold Dollars Profit Graph Slide30:  I I I I I I I 0 4000 8000 12000 16000 20000 24000 Tickets Sold Profit Task 3: The Bottom Line:  Task 3: The Bottom Line Random Reminder:  Random Reminder Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand = -146.22 Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Ticket Price # of tickets Task 4: Sales Demand:  Task 4: Sales Demand 2 Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand Task 4: Sales Demand:  Task 4: Sales Demand 2 2 Task 4: Sales Demand:  Task 4: Sales Demand Profit Task 4: Sales Demand:  Task 4: Sales Demand This table shows the number of tickets, revenue, total costs, and the profit of booking the “Dixie Chickens” at the Starplex Amphitheater for each of the ticket prices that Sam could make the audience pay. Task 4: Sales Demand:  Task 4: Sales Demand Price of a ticket Profit Task 4: Sales Demand:  Task 4: Sales Demand This table shows the number of tickets, revenue, total costs, and the profit of booking “Ms. Teak” at the Cotton Bowl for each of the ticket prices that Sam could make the audience pay. Task 4: Sales Demand:  Task 4: Sales Demand Profit Task 4: Sales Demand:  Task 4: Sales Demand Random Reminders:  Random Reminders Wake Up!!!! Task 5: Building the model using survey data:  Task 5: Building the model using survey data Task 5: Building the model using survey data:  Task 5: Building the model using survey data We were given a survey to see how much people are willing to pay for tickets. The results are as follows: Starplex Cotton Bowl Task 5: Building the model using survey data:  Task 5: Building the model using survey data We created a linear regression graph for the Starplex based on the points in the survey. Price Ticket Sales Task 5: Building the model using survey data:  Task 5: Building the model using survey data We created a linear regression graph for the Cotton Bowl based on the points in the survey. Price Ticket Sales Task 5: Building the model using survey data:  Task 5: Building the model using survey data Dixie Chickens at the Starplex Task 5: Building the model using survey data:  Task 5: Building the model using survey data Ticket Price Profit Task 5: Building the model using survey data:  Task 5: Building the model using survey data Random Reminder:  Random Reminder Sam’s Plan:  Sam’s Plan Equations:  Equations F= 163,000 or 178,000 V=4.5n P=R-C C=V+F R=pn Starplex Cotton Scenario I - Starplex:  Scenario I - Starplex F=163000 Slide65:  2 Slide66:  2 Scenario II – Cotton Bowl:  Scenario II – Cotton Bowl F=178,000 (where F= fixed cost) Slide68:  2 2 Comparing Scenarios :  Comparing Scenarios Cotton Bowl Starplex In conclusion, we found that selling the tickets to “Who’s That?” at the Cotton Bowl for $60 would be best for Sam’s business. Answer :  Answer Credits:  Credits Random Reminder:  Random Reminder Now you can go to sleep.

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