Question
Munoz 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
Munoz 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 Tuesday Wednesday Thursday Friday Saturday Sunday 420 270 150 520 960 960 490 Required Determine the average cost per person of the movie rental contract separately for each day. Suppose that Munoz chooses to price movie tickets at cost as computed in Requirement a plus $2.50. 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.
Munoz 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: Required a. Determine the average cost per person of the movie rental contract separately for each day. b. Suppose that Munoz chooses to price movie tickets at cost as computed in Requirement a plus $2.50. 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. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Suppose that Munoz chooses to price movie tickets at cost as computed in Requirement a plus $2.50. 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.)Step by Step Solution
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