C) The UCC football team has added a national power to next year’s schedule. The other team has agreed to play the game for a guaranteed fee of $350,000 plus 30 percent of ticket revenues. Assume that all tickets will be sold for $25.
a) How many tickets must be sold in order to recover the $350,000 guarantee?
b) If college official wish to net a profit of $500,000 from the game, how many tickets must be sold?
c) If a sellout of 50,000 fans is assured, what ticket price would allow the university to earn the desired profit of $500,000?
Assuming a sellout of 50,000 tickets, what would total profit equal if the tickets are priced at $25?
A box contains a large number of pens that are three colours: red, blue and green. The
probability that a pen is faulty depends on its colour. The probability of a faulty red pen is
0.1, while the probability of faulty blue and green pens is 0.15 and 0.08, respectively. In the
box, 35% of the pens is red in colour, 40% is blue in colour and the rest is green in colour.
The amount of pollutants that are found in waterways near large cities is normally distributed with mean 8.6 ppm and standard deviation 1.4 ppm. 17 randomly selected large cities are studied. Round all answers to 4 decimal places where possible.