TASK 1: Keep It Simple!
Figuring out which band to hire, where to schedule the concert, and how much to charge for tickets canbe a complicated process for a concert promoter. At the same time, making decisions about these factorsis fairly complex. Here’s an opportunity for mathematical modeling. In this task you will make someassumptions to simplify the problem so that you can start to build a model.
What Comes In
To plan the concert, you will eventually have to make decisions about the following three elements: theband, the arena, and how much to charge for tickets. But you will begin with Sam's basic concern whichis: "How much should he charge for admission to the concert in order to make the most money?"You can simplify Sam's problem by considering, for now, how much money he can earn; that is how muchhis
revenue
will be. You will consider his costs later. Also for the moment you don't need to worry aboutwhether ticket prices are so high that few people will come.Your first task is to make some assumptions so that you can build a model for Sam's revenue. Therevenue model can take the form of a table, a graph, or an equation. You will use all three.For this project the variable
n
always represents the number of tickets sold. Because ticket salesdetermine how much money Sam earns (and not the other way around), the number of tickets is the
input variable
.There is a limit to what numbers
n
can represent. This variable can use only integer values between zeroand the capacity of the stadium. The description of conditions on the values of an input variable is calledthe
domain of the variable.
For example, since the Cotton bowl has a seating capacity of 25,704, thenthe domain of
n
for this situation is the set of integers from 0 to 25,704.The
range
of the output variable is all the possible values of the variable. If
R
represents the revenue atthe Cotton Bowl, and each ticket $20, the range of the output variable
R
is multiples of 20 from 0 to$514,080.For our initial model, you will look potential revenue using the capacity of the Cotton Bowl and theassumption of a ticket price of $20.There are three different ways we can show the relationship of ticket sales,
n
, (domain) and revenue,
R
,(range): a table, an equation, and a graph. Each has its own features and uses. Since you do not yetknow exactly how you are going to use your information, you are not sure which is best for your needs.
Task 1 Worksheet
Since you are keeping your first model simple, you want to start with a simple revenue model. However,you aren’t sure of the best way to express it. Create your Revenue Model using all three methods: anequation, a table, and a graph.
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try to make one, thanks!
hahaha111 good... it help a lot... keep up the good work!