Answer to Question #79401 in Linear Algebra for Anna

Question

Waihi Council run a childrens show. They set up temp stage and seats. Tickets will be for both adults&children.Childs ticket will be more expensive.
Child Adult
Ticket Price $12 $3
Expected Average Food&Bev Purchase $4 $8
Expected Profit $10 $5
Is a max 300 temp seats available. Show will only go if income from ticket sales atleast $900&income from food&bev sales is atleast$1000. Across total ticket sale there cant be more than 3children tickets sold for every adult ticket sold.
Identify max profit available. Identify number of adults&childrens tickets needed be sold to maximise profit.
Task2 Financial planner at Waihi completed additional calculations&think may be a error with expected profit. Thinks expected profit from attendance of each child should decrease from $10to $7.50&expected profit from attendance of each adult should increase from $5to$7.50 Discuss change to max profit available
Discuss change to number of adults&children tickets need be sold to maximise profit

Answer 1

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