Question
Every home football game for the past 8 years at Southwestern university has been sold out. The revenues from ticket sales are significant, but the
Every home football game for the past 8 years at Southwestern university has been sold out. The revenues from ticket sales are significant, but the sale of food, beverages, and souvenir has contributed greatly to the overall profitability of the football program. One particular souvenir is the football program for each game. The number of programs sold at each game is described by the profitability distribution given in the table. Each program costs $ 0.80 to produce and sells for $2,00. Any Programs that are not sold are recycled and do not produce any revenue.
Sale Prob.
2300 0.15
2400 0.22
2500 0.24
2600 0.21
2700 0.18
( a). Simulate the sales of programs at 25 football games
( b). If the University decided to print 2500/2600 programs for each game, what would the average profits be for the
25 games that were simulated?
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