On March 3, 2008, a revival of Gypsy, the Stephen Sondheim musical, opened at the St. James Theater in New York. Ticket prices ranged from $117 to $42 per seat. The show's weekly gross revenues, operating costs, and profit were estimated as follows, depending on whether the average ticket price was $75 or $65. Average Price of $75 Average Price of $65 $680,000 Gross revenues $765,000 Operating costs $600,000 Profit $165,000 $600,000 $80,000 With a cast of 71 people, a 30-piece orchestra, and more than 500 costumes, Gypsy cost more than $10 million to stage. This investment was in addition to the operating costs (such as salaries and theater rent). How many weeks would it take before the investors got their money back, according to these estimates, if the average price was $65? If it was $75?
On March 3, 2008, a revival of Gypsy, the Stephen Sondheim musical, opened at the St. James Theater in New York. Ticket prices ranged from $117 to $42 per seat. The show's weekly gross revenues, operating costs, and profit were estimated as follows, depending on whether the average ticket price was $75 or $65. Average Price of $75 Average Price of $65 $680,000 Gross revenues $765,000 Operating costs $600,000 Profit $165,000 $600,000 $80,000 With a cast of 71 people, a 30-piece orchestra, and more than 500 costumes, Gypsy cost more than $10 million to stage. This investment was in addition to the operating costs (such as salaries and theater rent). How many weeks would it take before the investors got their money back, according to these estimates, if the average price was $65? If it was $75?
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Transcribed Image Text:On March 3, 2008, a revival of Gypsy, the Stephen Sondheim musical, opened at the St. James Theater in New York. Ticket prices ranged
from $117 to $42 per seat. The show's weekly gross revenues, operating costs, and profit were estimated as follows, depending on whether
the average ticket price was $75 or $65.
Average Price of $75 Average Price of $65
$680,000
Gross revenues $765,000
Operating costs $600,000
Profit
$165,000
$600,000
$80,000
With a cast of 71 people, a 30-piece orchestra, and more than 500 costumes, Gypsy cost more than $10 million to stage. This investment
was in addition to the operating costs (such as salaries and theater rent). How many weeks would it take before the investors got their
money back, according to these estimates, if the average price was $65? If it was $75?
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