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frake

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Information about frake
Education

Published on February 20, 2008

Author: smsalgebra

Source: authorstream.com

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Hello. We are your friendly Concert Consulting agency Ping Guo Pie (apple pie):  Hello. We are your friendly Concert Consulting agency Ping Guo Pie (apple pie) Location Chooses Seating Capacity:  Location Chooses Seating Capacity The Cotton Bowl Seating capacity- 25,704 people The Starplex Amphitheater Seating capacity-20,111 Revenue Model:  Revenue Model We assumed ticket price was $20 Our Model was: Revenue = price x number of tickets sold If n= number of tickets sold R=20n was our equation Revenue Model:  Revenue Model Revenue Model:  Revenue Model Task 2: Cost Model:  Task 2: Cost Model Fixed Costs (F) Costs that stay the same no matter how many tickets are sold. Band Arena Other (advertising & ticket agency) Arena Cost:  Arena Cost Band Cost :  Band Cost Other Costs :  Other Costs Ms. Teak at the Cotton bowl fixed prices :  Ms. Teak at the Cotton bowl fixed prices - Ms Teak $75,000 - Cotton Bowl + $75,000 - Other + $55,000 Total $205,000 Dixie Chickens at the Starplex Amphitheater :  Dixie Chickens at the Starplex Amphitheater Dixie Chickens $88,000 Starplex + $60,000 Other + $55,000 Total $203,000 Dixie Chickens at the Cotton Bowl:  Dixie Chickens at the Cotton Bowl Dixie Chickens $88,000 Cotton Bowl + $75,000 Other + $55,000 Total $218,000 Variable Costs (V) & Unit Rate :  Variable Costs (V) & Unit Rate Variable Costs (V) Costs that vary as the number of tickets sold varies. Another way to look at the cost of your fixed costs is Unit Rate Unit Rate is if each person had to pay their fair share of this cost how much would it be? Variable Cost ModelAssume 15,000 Attend :  Variable Cost Model Assume 15,000 Attend Slide17:  Variable costs =unit rate times number of tickets sold or V= mn where m = unit rate and n= number of tickets sold Total Costs (C) C = V+F C = mn+F Ms. Teak at the Cotton Bowl:  Ms. Teak at the Cotton Bowl Dixie chickens at the Starplex:  Dixie chickens at the Starplex Dixie Chickens at Cotton Bowl:  Dixie Chickens at Cotton Bowl Cost Model Ms. Teak at the Cotton Bowl:  Cost Model Ms. Teak at the Cotton Bowl Dixie Chickens at the Starplex :  Dixie Chickens at the Starplex Dixie Chickens at Cotton Bowl :  Dixie Chickens at Cotton Bowl Sam thinks we should get a 100!Enjoy the rest of our WONDERFUL project……..(It deserves a 100!!) :  Sam thinks we should get a 100! Enjoy the rest of our WONDERFUL project…….. (It deserves a 100!!) Task 5:  Task 5 Now it is time to find figure out the what band, location, and price per ticket will give the largest profit. Slide26:  Starplex Amphitheater Cotton Bowl Survey Information Slide27:  Linear Regression: n = -248.21p + 28571.43 Linear Regression: n = -146.43p + 21428.57 Slide28:  With the information and equations that we have collected through the course of the project, we can now figure out the best ticket price and maximum profit for each band at each arena and compare them to choose the one that can give the highest profit. Final Results!!!:  Final Results!!! Band: Who’s That? Location: Cotton Bowl Price: $60 per Ticket Profit: $599,000

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