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Munoz Cinemas is considering a contract to rent a movie for $1,600 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 $1,600 per day. The contract requires a minimum one-week rental period. Estimated attendance is as follows:
Monday | Tuesday | Wednesday | Thursday | Friday | Saturday | Sunday | |||||||
480 | 300 | 170 | 510 | 1,020 | 1,020 | 500 | |||||||
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 $2.00. 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.
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