What maximum profit might be expected

Assignment Help Basic Computer Science
Reference no: EM131350174

Entertainment A theater has been staging children's plays during the summer. The average attendance at each performance is 400 people, and the cost of a ticket is $3. Next summer, the theater manager would like to increase the cost of the tickets, while maximizing profits. The manager estimates that for every $1 increase in ticket price, the attendance at each performance will decrease by 20.

a. What price should the manager propose to maximize profits?

b. What maximum profit might be expected?

Reference no: EM131350174

Questions Cloud

Prepare a contract for the sale of the given goods : bus607- Prepare a contract for the sale of these goods that will be in your client's favor on each of the areas that Machines, Inc. failed to specify.
Write your opinion to a character action or reaction : Sketch a scene in the book depicting a part of the plot (link) and explain why you chose to draw this scene. Describe a feeling or emotion that you experienced as you were reading this section and what caused this feeling. Write your opinion to a cha..
Type of polynomial function : a. Determine the type of polynomial function which best approximates the data. Justify your answer. b. Write the regression equation that represents the data.
Analyze how those trends are affecting the business : How those trends are affecting business. Identify projections about possible outcomes. Specify implications to business. Recommend three changes that would improve the overall structure and culture of the company.
What maximum profit might be expected : Next summer, the theater manager would like to increase the cost of the tickets, while maximizing profits. The manager estimates that for every $1 increase in ticket price, the attendance at each performance will decrease by 20.
Which of the three persons is the bottleneck : Which of the three persons is the bottleneck - What is the ( implied) utilization of the senior accountant? The junior accountant? The administrative support person?
How far is the surveyor from the bottom of the building : Surveying A building 60 feet tall is on top of a hill. A surveyor is at a point on the hill and observes that the angle of elevation to the top of the building measures 42° and the angle of elevation to the bottom measures 18°.
Succession out of a box containing : Two balls are drawn in succession out of a box containing 5 red and 2 white balls. The balls are drawn without replacement. What is the probability that both balls drawn are red?
Shopping at a particular supermarket : Customers shopping at a particular supermarket spend a mean time shopping of 47 minutes, with a standard deviation of 11 minutes. Assuming a normal distribution, what is the probability that a randomly chosen customer will spend between 36 and 58 ..

Reviews

Write a Review

 

Basic Computer Science Questions & Answers

  Why does segment sequence number remain unchanged

Why does the Segment Sequence Number remain unchanged (indicated by a horizontal line in the graphs) with every drop in the congestion window?

  Operation in this group is composition

Let X be a set (either finite or infinite) and G = Sym(X) be the group of bijections f : X → X. Recall that the operation in this group is composition, and the identity element is the identity function id: X → X. If X has three or more elements, s..

  Database schema that defines the selected product

Visit the Amazon website (www.amazon.com) and search for a product of interest to you.Develop a database schema that defines the selected product’s attributes. What information would be useful to include so that this item can be compared to other pro..

  Write the complete myfnc function to return the value 1

Write the complete myfnc function to return the value 1 if they are equal and return the value 0 if they are not equal.

  Data warehouse consists of four dimensions

Suppose a market shopping data warehouse consists of four dimensions: customer, date, product and store and two measures: count and avg_sales, where avg_sales stores the real sales in dollar at lowest level but the corresponding average sales at o..

  Event drive programming

Lets look at event drive programming. What is an event driven program? What are events associated with? What are examples of common events?

  Hd-dvd versus blu-ray

In recent times, HD-DVD and Blu-ray were competing technology formats for creating and watching movies on DVDs. Neither was compatible with the other. Eventually, Blu-ray won the competition.

  Symmetric and asymmetric encryption

What is the difference between symmetric and asymmetric encryption?

  Budgeted the following costs for a month

Sam's Chop has budgeted the following costs for a month in which 1,500 steak dinners will be produced and sold: Materials, $3,750; labor (variable), $3,000; rent(fixed),$2,400; straight-line depreciation, $600;

  Find the mass flow rate of the superheated steam required

Consider a steady-flow heat exchanger involving two different fluid streams. Under what conditions will the amount of heat lost by one fluid be equal to the amount of heat gained by the other?

  Compare ipv4 and ipv6 private addressing

What is a Distributed Hash Table (DHT) and how is it used in P2P networks? Briefly explain how a DHT works with an example of a P2P network.

  What are the main difficulties in using these techniques

Describe neural networks and genetic algorithms as techniques for data mining. What are the main difficulties in using these techniques?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd