Question
A concert hall has 12,000 seats and two categories of ticket prices, $24 and $64. Assume that all seats in each category can be sold.
A concert hall has 12,000 seats and two categories of ticket prices, $24 and $64. Assume that all seats in each category can be sold.
| Concert | ||||||
| 1 | 2 | 3 | ||||
| Tickets sold | 12,000 | 12,000 | 12,000 | |||
| Return required | $394,000 | $496,000 | $356,000 |
a. How many tickets of each category should be sold to bring in each of the returns indicated in the table?
| $24 Tickets | $64 Tickets | |
| Concert 1 | _____ | ______ |
| Concert 2 | _______ | ________ |
|---|
| Concert 3 | _________ | ______ |
|---|
b. Is it possible to bring in a return of $203,000
when all the seats are sold?
A.
No,
$203,000
is greater than the highest possible return.
B.
Yes,
$203,000
is within the range of possible returns.
C.
No,
$203,000
is less than the smallest possible return.
D.
None of the above.
Is it possible to bring in a return of $831,000
when all the seats are sold?
A.
Yes,
$831,000
is within the range of possible returns.
B.
No,
$831,000
is less than the smallest possible return.
C.
No,
$831,000
is greater than the highest possible return.
D.
None of the above.
c. Describe all the possible returns. Choose the correct answer below.
A.
The return can range from
$288,000
to
$768,000
in steps of
$40.
B.
The return can range from
$288,000
to
$768,000
in steps of
$88.
C.
The return can be any multiple of
$40.
D.
None of the above.
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College Mathematics For Business Economics Life Sciences And Social Sciences
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen
13th Edition
0321945514, 978-0321945518
