Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that

Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular
activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected
fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $11,100. Micromedia rents
computers for its seminars at a cost of $115 per computer per day.
(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar.
C=
(b) Develop a model for the total profit (P) if x students enroll in the seminar.
P=
(c) Micromedia has forecast an enrollment of 40 students for the seminar. How much profit will be earned if their forecast is accurate?
P(40)=$
(d) Compute the break-even point.
x=
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Management A Systems Approach to Planning Scheduling and Controlling

Authors: Harold Kerzner

10th Edition

978-047027870, 978-0-470-5038, 470278706, 978-0470278703

More Books

Students also viewed these General Management questions

Question

5. How do you plan to roll your position over?

Answered: 1 week ago

Question

What was the first US state admitted to the union?

Answered: 1 week ago

Question

What was the last currency to be used in the US before the dollar?

Answered: 1 week ago

Question

In what state was George Washington born?

Answered: 1 week ago

Question

What year did the American civil war begin?

Answered: 1 week ago