(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
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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.
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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