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A student association has hired a musical group for a graduation party. The cost will be a fixed amount of $10,010. Required 1. Suppose 550

A student association has hired a musical group for a graduation party. The cost will be a fixed amount of

$10,010.

Required

1. Suppose 550 people attend the party. What will be the total cost of the musical group? What will be the unit cost per person?

2. Suppose 7,700 people attend the party. What will be the total cost of the musical group? What will be the unit cost per person?

3. For prediction of total costs, should the manager of the party use the unit cost in requirement 1 or the unit cost in requirement 2? What is the major lesson of this problem?

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Previous Question Next Question

1.	Suppose 550 people attend the party. What will be the total cost of the musical group? What will be the unit cost per person?
2.	Suppose 7,700 people attend the party. What will be the total cost of the musical group? What will be the unit cost per person?
3.	For prediction of total costs, should the manager of the party use the unit cost in requirement 1 or the unit cost in requirement 2? What is the major lesson of this problem?