(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar. (b) Develop a model for the total profit (P) if x students enroll in the seminar. P= (c) Micromedia has forecast an enrollment of 55 students for the seminar. How much profit will be earned if their forecast is accurate? P(55) - $[ (d) Compute the break-even point.
(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar. (b) Develop a model for the total profit (P) if x students enroll in the seminar. P= (c) Micromedia has forecast an enrollment of 55 students for the seminar. How much profit will be earned if their forecast is accurate? P(55) - $[ (d) Compute the break-even point.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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![Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel
in statistical analysis. The projected fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $10,850. Micromedia rents computers for its seminars at a cost of $125 per computer per day.
(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar.
C =
(b) Develop a model for the total profit (P) if x students enroll in the seminar.
P =
(c) Micromedia has forecast an enrollment of 55 students for the seminar. How much profit will be earned if their forecast is accurate?
P(55) = $
(d) Compute the break-even point.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F552923ff-023f-473c-89d2-d226e8df7ae8%2F0e31f358-c73d-4c0e-a21d-687dcac9f865%2Fukyf3hf_processed.png&w=3840&q=75)
Transcribed Image Text:Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel
in statistical analysis. The projected fee for the seminar is $600 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $10,850. Micromedia rents computers for its seminars at a cost of $125 per computer per day.
(a) Develop a model for the total cost (C) to put on the seminar. Let x represent the number of students who enroll in the seminar.
C =
(b) Develop a model for the total profit (P) if x students enroll in the seminar.
P =
(c) Micromedia has forecast an enrollment of 55 students for the seminar. How much profit will be earned if their forecast is accurate?
P(55) = $
(d) Compute the break-even point.
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