Question
Fanning Cinemas is considering a contract to rent a movie for $1,800 per day. The contract requires a minimum one-week rental period. Estimated attendance
Fanning Cinemas is considering a contract to rent a movie for $1,800 per day. The contract requires a minimum one-week rental period. Estimated attendance is as follows: Monday 400 Tuesday 350 Wednesday 210 Thursday 520 Friday 1,040 Saturday 1,040 Sunday 480 Required a. Determine the average cost per person of the movie rental contract separately for each day. b. Suppose that Fanning chooses to price movie tickets at cost as computed in Requirement a plus $2.30. What price would it charge per ticket on each day of the week? c. Use weekly averaging to determine a reasonable price to charge for movie tickets. Complete this question by entering your answers in the tabs below. Req A Req B and C Suppose that Fanning chooses to price movie tickets at cost as computed in Requirement a plus $2.30. What price would it charge per ticket on each day of the week? Use weekly averaging to determine a reasonable price to charge for movie tickets. (Round your intermediate calculations and final answer to 2 decimal places.) Day Price per ticket Reasonable price Monday Tuesday Wednesday Thursday Friday Saturday Sunday < Req A Req B and C >
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