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I need help with numbers 4,5,& 6 please. Overview: The company you are working for has decided to put on a banquet to raise money
I need help with numbers 4,5,& 6 please.
Overview: The company you are working for has decided to put on a banquet to raise money for a charity and must decide between two catering services to supply the food and servers. You have been assigned to the Banquet Planning Committee. Research Provided: The Company's research department has provided the following estimates: - A demand of 230 banquet attendees can be expected at a dinner plate price of $80.00 each. A demand of 370 banquet attendees can be expected at a dinner plate price of $45.00 each. - Catering Service A has a fixed cost of $1,900 and a marginal cost of $30 for each plate. - Catering Service B has a fixed cost of $3,000 and a marginal cost of $22 for each plate. - Costs for both caterers include the food, drinks, plates, utensils, tablecloths, glasses, crew, and cleanup. - Dinner plates will only be sold as an entire unit. To justify company resources and to ensure the event will benefit the charity, the CEO insists the tickets be sold for no less than $40. All profits will go toward a charity of the committee's choosing. - Additional spontaneous donation to the charity will be accepted the night of the banquet. Studies estimate that 5% will give $5,23% will give $20,18% will give $50,7% will give $100, and 2% will give $500. 4. Determine the break-even quantities for each of the two possible catering services. 5. Find the Profit function, P(x), for each of the two possible catering services in terms of the number of banquet attendees x. 6. If it is projected that there will be 100 tickets sold at a dinner price of $112.50, which catering service should the committee recommend in order to earn the most profit for the charity Step by Step Solution
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