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Math Help - I need help quick!!!!

  1. #1
    sharingan237
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    I need help quick!!!!

    I have a assiment that i have no ideas how to do. Can someone please help, it due tomorrow morning.
    Thank in advance to anyone that can help.

    Ted's tee charge $3.75 per shirt, $0.80 to print each shirt with a design, and $125 per order for the silk-screen design.

    1.Suppose that the track team wishes to make a profit of $1000 from the sale of T-shirts. Explore several pricing schemes that result in this level of profit by adjusting the amount that the track team charges for the shirts and the number of shirts that need to be sold.

    2. For each pricing scheme that you explored in Question 1 , write an equation that represents how many T-shirts need to be sold to reach the break-even point, the point at which the cost and income are the same.

    3.For each pricing scheme that you explored in question 1 , write an equation that represents how many T-shirts need to be sold to make a profit of $1000
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by sharingan237
    I have a assiment that i have no ideas how to do. Can someone please help, it due tomorrow morning.
    Thank in advance to anyone that can help.

    Ted's tee charge $3.75 per shirt, $0.80 to print each shirt with a design, and $125 per order for the silk-screen design.

    1.Suppose that the track team wishes to make a profit of $1000 from the sale of T-shirts. Explore several pricing schemes that result in this level of profit by adjusting the amount that the track team charges for the shirts and the number of shirts that need to be sold.
    Let the order size be N, then the cost in dollars is:

    <br />
C=125+N(3.75+0.80)=125+4.55N<br />

    Now suppose they sell M \le N shirts at the same price for
    each shirt of p dollars, then the revenue is:

    <br />
R=Mp<br />

    So the profit is:

    <br />
P=R-C=Mp-125-4.55N<br />

    Now you need to investigate the number that need to be ordered, sold and
    the price charged to result in $1000 profit. At this stage you could also
    possibly assume that all the shirts are sold so M=N.

    An alternative method of pricing could be to charge p_1 for the first
    M_1 shirts and p_2 for any further shirts sold.

    RonL
    Last edited by CaptainBlack; March 4th 2006 at 06:26 AM.
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  3. #3
    Grand Panjandrum
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    Quote Originally Posted by sharingan237

    2. For each pricing scheme that you explored in Question 1 , write an equation that represents how many T-shirts need to be sold to reach the break-even point, the point at which the cost and income are the same.
    The break-even point is the point at which P=0

    RonL
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