# Pricing concert tickets

• Dec 6th 2009, 10:23 AM
Tazo
Pricing concert tickets
Quote:

Tickets to a rock concert cost \$4, and the projected attendance is 300 persons. It is further projected that for every 10http://www.webassign.net/images/cents.gif increase in ticket price, the average attendance will decrease by 5. At what ticket price will the nightly receipts be \$1,248?
I'm having difficulty setting this problem up. I've tried several attempts but none have been successful.
Can someone break it down to me, please?
• Dec 6th 2009, 10:45 AM
leverin4
Quote:

Originally Posted by Tazo
I'm having difficulty setting this problem up. I've tried several attempts but none have been successful.
Can someone break it down to me, please?

\$4.00 * 300 guests = \$1200
\$4.10 * 295 guests = \$1209.50
\$4.20 * 290 guests = \$1218

In general,

(4 + (.1 * x)) * (300 - (5 * x)) = gross reciepts. Do you see why?
• Dec 6th 2009, 11:18 AM
Tazo
Wait, so you're basically saying:

(4 + .1x)(300 - 5x) = 1248, Right?

Well, I tried that and my answers come out to be \$8 and \$12.

In the back of the book the answers are: \$4.80 & \$5.20.

Um...am I missing something?
• Dec 6th 2009, 12:25 PM
leverin4
Quote:

Originally Posted by Tazo
Wait, so you're basically saying:

(4 + .1x)(300 - 5x) = 1248, Right?

Well, I tried that and my answers come out to be \$8 and \$12.

In the back of the book the answers are: \$4.80 & \$5.20.

Um...am I missing something?

you're right. You're answers are x = 8 and x = 12.

When x = 8, the equation looks like

(4 + .1(8))(300 - 5(8) = 1248
(4 + .8)(300 - 40 = 1248
\$4.80 * 260 = 1248

See now?