Scribd Logo
Upload

Welcome to Scribd!

  • Introductory Problem

    Uploaded by

    anniemarieevans
    16 views1 page
    The student council surveyed 575 students to determine the optimal ticket price for an upcoming school dance that would maximize their profits. The survey asked students the maximum price they would pay for a ticket, with responses ranging from $3 to $7. To maximize profits, the student council will need to analyze the number of responses at each price point to determine the price that will generate the greatest total revenue.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The student council surveyed 575 students to determine the optimal ticket price for an upcoming school dance that would maximize their profits. The survey asked students the maximum price they would pay for a ticket, with responses ranging from $3 to $7. To maximize profits, the student council will need to analyze the number of responses at each price point to determine the price that will generate the greatest total revenue.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    16 views1 page

    Introductory Problem

    Uploaded by

    anniemarieevans
    The student council surveyed 575 students to determine the optimal ticket price for an upcoming school dance that would maximize their profits. The survey asked students the maximum price they would pay for a ticket, with responses ranging from $3 to $7. To maximize profits, the student council will need to analyze the number of responses at each price point to determine the price that will generate the greatest total revenue.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    An Introductory Problem

    The student council at a local high school is interested in maximizing the profit that they could
    make at a school dance that is coming up. They decide to survey the student body and ask the
    question:

    What would be the most that you would be willing to pay for a ticket to the
    dance this weekend?

    575 students were surveyed. The results are shown below.

    Ticket price Number of Responses


    ----------------- --------------------------------
    $3.00 67
    $3.50 64
    $4.00 50
    $4.50 84
    $5.00 75
    $5.50 35
    $6.00 80
    $6.50 40
    $7.00 80

    Question: What should the student council charge to maximize their profit?

    You might also like