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The ticket price this year should be set at $44.00 per person.

In an effort to make the event more family friendly and increase the number of attendees, we’d like to lower the ticket price this year. An extremely informal survey amongst our friends has suggested that each time we lower the ticket price $1, an additional 5 people will attend.

Price Attendance Revenue
$44 150 $6600
$43 155 $6665
$42 160 $6720
$41 165 $6765
$40 170 $6800
$39 175 $6825
$38 180 $6840

I’d like to set up a function that gives the revenue for any ticket price. Since the function we’re looking for depends on price, we’ll let x equal the ticket price.

Ticket price x
Amount price is lowered 44-x
Increase in attendance 5(44-x)
Attendance
Revenue f(x) =
f(x) =

2007-07-18 11:05:03 · 2 answers · asked by Anonymous in Business & Finance Other - Business & Finance

2 answers

number of people attending = 150 + 5x(44-price)
revenue = number of people attending x price

[150 + 5 x (44-price)] x price

[150 + 220 - 5 x price] x price

[370 - 5 x price] x price
370 x price - 5 x price^2 = revenue

(all the x's are for multiplication, not variables)

2007-07-18 11:13:01 · answer #1 · answered by Anonymous · 0 0

Go to excel or the equivalent of open office. Put 44 in A1, put 150 in b1, in c1 put =a1*b1. Then move out of c1 and let the answer come up then click on c1, put the curser in the lower right corner of c1, click the left mouse button and drag down to make the formula usefull in all the boxes, fill in the info and it will keep calculating for you

2007-07-18 18:21:05 · answer #2 · answered by Pengy 7 · 0 0

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