A new movie theater is trying to gauge how much they should charge for movie tickets. The tableshows several different ticket pricing costs and how much profit the theater made at each cost(taking into account the overhead expenses the theater had to pay to be open).Cost of ticket($)5.7.1012Profit ($)240639784581The ultimate question: Find the maximum profit rounded to the nearest cent.Things to consider while answering:• Plot a graph of this situation.• Based on the trend in the data, generate an appropriate regression model that best fits thedata.

Answered: Image /qna-images/answer/2a05fd1a-95ac-4434-a57a-8a36bce14c37.jpg

A new movie theater is trying to gauge how much they should charge for movie tickets. The table shows several different ticket pricing costs and how much profit the theater made at each cost (taking into account the overhead expenses the theater had to pay to be open). Cost of ticket($) 5 10 12 Profit ($) 240 639 784 581 The ultimate question: Find the maximum profit rounded to the nearest cent. Things to consider while answering: • Plot a graph of this situation. • Based on the trend in the data, generate an appropriate regression model that best fits the data.

A new movie theater is trying to gauge how much they should charge for movie tickets. The table shows several different ticket pricing costs and how much profit the theater made at each cost (taking into account the overhead expenses the theater had to pay to be open). Cost of ticket($) 5 10 12 Profit ($) 240 639 784 581 The ultimate question: Find the maximum profit rounded to the nearest cent. Things to consider while answering: • Plot a graph of this situation. • Based on the trend in the data, generate an appropriate regression model that best fits the data.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Adventure Rafting, a company that runs rafting trips on the Colorado River, has eight rafts in its…

Q: The circle graph shows a breakdown of spending for the average household using 365 days worked as a…

Q: Kylie has started a small bakery and has recorded the number of cupcakes sold each day for the first…

Q: According to Nielsen Media Research 30% of televisions are tuned in to the NFL Monday Night Football…

A: Note: Thanks for posting the question, in subparts (b) and (c), “exactly 5 or the 15 televisions” is…

Q: Calculate, for the composite and each of the subject areas, the difference between the national…

A: We see that we have several values corresponding to a given number of subjects. These values are the…

Q: Kathy puts $3000 into an account that pays 5% simple interest annually. a) Create a linear model to…

A: Principal , P = $3000 Rate , R = 5% Simple interest in , t , years equals SI = (P * R * T)/ 100…

Q: If a supply curve is modeled by the equation p= 200+ 0.2q3/2, find the producer surplus when the…

Q: n 3 2 20 LL 60 40 80 What percentage of bartenders working at Lulu's earned $60 or less an hour in…

Q: solve questions with great detail

Q: 6. To encourage new customers, a new movie theater is offering different ways to pay for a movie. •…

Q: The circle graph shows how much revenue a publisher gets for different types of publications. Use…

A: In this question we have to find the percentage of choosen colours by students.

Q: Ball pens cost $10.99 a piece. What graph shows the relationship between the humber of pens…

Q: Use the graph to complete parts (a) and (b) below. 800- 700- Predicted Price 3.20 +0.150 Sqft 600-…

A: Given, Predicted Model is: Predicted Price =3.20+0.150 Sqft

Q: Using excel. For the Hawkins Company, the monthly percentages of all shipments received on time over…

A: Given: For the Hawkins Company, the monthly percentages of all shipments received on time over the…

Q: WORK TIME REQUIRED TO PAY FOR SELECTED FOOD ITEMS* IN THE UNITED STATES, 1919 AND 1997 1 Pound of…

A: Here, in the question given a graph work time is required to pay for selected food items in the…

Q: A factory has a monthly operation cost of $280. The graph attached shows the total cost, C, for…

A: As per the question, we will be finding the linear function satisfying the graph. We are given the…

Q: Your cell phone carrier is offering you a new iPhone 12 for $800 with a $60 monthly plan. The total…

A: Let 'x' represents the number of months you own the phone.

Q: ASK YOUR TEACHE Nationwide Communications offers its customers a monthly plan for text messaging.…

Q: Yaster Outfitters manufactures and sells extreme-cold sleeping bags. The table below shows the…

A: x(Sleeping bags)p($)C($)952401300012023514300180155185002205021000

Q: Use the graph above for question one assuming it represents the cost of a perfectly competitive firm…

A: Given that -

Q: The circle graph shows a breakdown of spending for the average household using 365 days worked as a…

Q: Solve the problem. The graph shows the average cost of a barrel of crude oil for the years 1981 to…

Question

A new movie theater is trying to gauge how much they should charge for movie tickets. The table
shows several different ticket pricing costs and how much profit the theater made at each cost
(taking into account the overhead expenses the theater had to pay to be open).
Cost of ticket($)
5.
7.
10
12
Profit ($)
240
639
784
581
The ultimate question: Find the maximum profit rounded to the nearest cent.
Things to consider while answering:
• Plot a graph of this situation.
• Based on the trend in the data, generate an appropriate regression model that best fits the
data.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Inequality$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

look at image below and answer: a) From the table, determine if the data represents a linear, quadratic or exponential relationship. Justify your answer. b) Joe’s grandfather’s 65 year old friend drives a Porsche. His insurance rate is only $500.35 per year. Does this information fit the model you chose above? Explain. c) Graph the data (remember to include Joe’s grandfather’s friend’s insurance rate). Determine the equation of best fit. d) Use your results to determine Joe’s annual insurance rate when he purchases his Porsche, by making an eqaution and then sketching the graph e) If Joe decides to pay his insurance monthly instead of yearly, what will be his total monthly costs for his car payments and insurance? Should Joe rethink his Porsche dream? Explain your thinking.
The circle graph shows a breakdown of spending for the average household using 365 days worked as a basis of comparison. What percentage of work time does the average household spend paying for saving? C Paying for saving accounts for % of work time. (Round to one decimal place as needed.) State/Local Taxes: 37 days Housing and Household Operation: 65 days All Other: 41 days Federal Taxes: 73 days Medical Care: 53 days Saving: 3 days Food: 30 days Recreation: 21 days Transportation 30 days Clothing and Accessories: 12 days
Current Attempt in Progress The figure below shows cost and revenue. $(thousands) 2000 L 3 1500 1000 500 ✓ 15 Your answer is correct. 25°F Mostly clear 30 C(q) L 45 R(q) q (thousands) O
I dont understand B.
Solve. If necessary, round to the nearest tenth of a percent. The graph below shows the total earnings of the top 30 members of the Ladies Professional Golf Association (LPGA) golf tour. What was the percent decrease in total earnings between the years 2009 and 2010? % 35 31.6 28.8 30 -27.5 25.4 25 20 15 10 5 2007 2008 2009 2010 Total Earnings of Top 30 LPGA Members Dollars (in millions)
The circle graph shows how a family budgets it's annual income. If the total income is $100,000, what is budgeted for food?
This graph shows how the length of time a bicycle is rented is related to the rental cost. What is the rate of change shown in the graph? Bicycle Rental 22 20 18 16 14 12 10 8 6. 2 Time (hours) O A. $4/hour B. 4 hours/dollar C. $2/hour D. 2 hours/dollar SUBMIT + PREVIOUS Cost ($)
Given the following, explain whether or not it is appropriate to use the graph to predict the price of a Corolla that is fourteen years old. Why or why not?
A local restaurant has a weekly fixed cost of $1507 per week, and unit costs of $1.75 per hamburger. They sell the hamburger for $5.99 a. Sketch the graph of the following cost and revenue functions. Shade and label the area of profit and loss
1. For each diagram, decide if y is an increase or a decrease relative to x. Then determine the percent increase or decrease. A y B.