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sergey [27]
3 years ago
9

A baseball team plays in a stadium that holds 62000 spectators. With the ticket price at $11, the average attendance has been 27

000. When the price dropped to $8, the average attendance rose to 31000. Assume that attendance is linearly related to the ticket price.
What ticket price would maximize revenue?
Mathematics
1 answer:
sasho [114]3 years ago
4 0

Answer:

$15.625

Step-by-step explanation:

Let the revenue collected be R and price per spectator be p then the number of spectators be N. Therefore

R=Np

Using equation of slope of y=mx +c where m is gradient and c is y-intercept

When p=$11, N=27000 and when p=$8, N=31000

The gradient, m will be

m=\frac {31000-27000}{8-11}= -1333.33

To get the y-intercept

N=-1333.33p+c

When spectator number n is 27000, the price p is $11

27000=-1333.33(11)+c hence we solve c

c=27000+(11*1333.33)= 41666.67

Therefore, the linear equation is

N=-1333.33p+ 41666.67

Substituting the linear equation into R=Np we obtain

R=p(-1333.33p+41666.67)

R=-1333.33p^{2}+41666.67p

To obtain maximum revenue, we differentiate the above with respect to price hence obtain

0=2*-1333.33p+41666.67

p=-\frac {41666.67}{2(-1333.33)}= 15.625

Therefore, the price that maximizes revenue is $15.625

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35w+9w+35w^3+25w^3–25w^3<br><br>pls help
SVETLANKA909090 [29]

Answer:

35w^3 + 44w

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8 0
3 years ago
Arnie decides to make 3 cups of dark orange paint and 3 cups of light orange paint.
dimulka [17.4K]

The question is an illustration of equivalent ratios.

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  • 3 cups of light orange require 19.5 ounces of yellow paint

1 cup of dark orange requires

Red = 7oz

Yellow =1oz

To make 3 cups, we simply multiply by 3, because 3 \times 1 = 3

So, we have:

Red = 7oz \times 3 = 21oz

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2 cups of light orange require

Red =3oz

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To make 3 cups, we simply multiply by 1.5, because 2 \times 1.5 = 3

So, we have:

Red = 3oz \times 1.5 = 4.5oz

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Hence:

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Read more about equivalent ratios at:

brainly.com/question/18441891

5 0
2 years ago
the lowest temperature ever recorded on earth's surface was −128.5°f. the highest temperature was 262.5°f higher than the lowest
vlabodo [156]

Answer: 134 °f

Step-by-step explanation:

Lowest is -128.5 °f, the highest is 262.5 °f higher than the lowest.

you would simply add 262.5 °f to your -128.5 °f, giving you 134 °f.

another way of doing this is subtracting 128.5 from 262.6

5 0
3 years ago
Read 2 more answers
Identify the ordered pair that represents the vector from A(-8,-1) to B(-5,3) and the magnitude of vector AB.
wel
In order to find the vector that points from A to B we need to subtract each component of A from the corresponding component of B, according to the formula: v(a→b)=(b1−a1,b2−a2) In this case we have : v(a→b)=(−5−(−8),3−(−1)) <span>v(a→b)=(3,4)

</span>To find the magnitude we use the formula: ||v|=  √(v1^2)+(v1^2)

So:
||v|= √(32)+(42) ||v|=  √9+16 ||v|= <span>√</span>25  ||v|= 5
8 0
3 years ago
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