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Gibson Cinemas is considering a contract to rent a movie for $2,200 per day. The contract requires a minimum one-week rental period. Estimated attendance is
Gibson Cinemas is considering a contract to rent a movie for $2,200 per day. The contract requires a minimum one-week rental period. Estimated attendance is as follows: Monday 450 Tuesday 270 Wednesday 190 Thursday 570 Friday 1,050 Saturday 1,050 Sunday 540 Required a. Determine the average cost per person of the movie rental contract separately for each day. b. Suppose that Gibson chooses to price movie tickets at cost as computed in Requirement a plus $2.80. 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 Determine the average cost per person of the movie rental contract separately for each day. (Round your answers to 2 decimal places.) Monday Tuesday Wednesday Thursday Friday Saturday Sunday Day Average cost per person
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