Quantitative Analysis: Football Program Sales
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a. Ryan is planning to finance her college education by selling programs at the football games for her team. there is a fixed cost of $400 for printing these programs, and the variable cost is $3. there is also a $1,000 fee that is paid to the university for the right to sell these programs. If Ryan was able to sell programs for $5 each, how many would she have to sell in order to break even?
b. Sales have fallen as a result of the team losing streak and attendance has fallen off. Ryan will only sell 500 programs for the next game. If it was possible to raise the selling price of the program and still sell 500, what would the price have to be for Ryan to break even by selling 500?
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Solution Summary
Calculations are given and explained to determine what needs to be made to break even.
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a. Ryan is planning to finance her college education by selling programs at the football games for her team. there is a fixed cost of $400 for printing these programs, and the variable cost is $3. there is also a $1,000 fee that is paid to the university for the right to sell these programs. If Ryan was able to sell programs for $5 each, how many would she ...
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- BSc , Wuhan Univ. China
- MA, Shandong Univ.
Recent Feedback
- "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
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