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31 Jan 2025, 11:02
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Message from the Managing Director of a theater company to the Artistic Director
I have information about six theaters that could be suitable for our upcoming production. Their capacities range from 142 seats to 199 seats, and their rental rates range from $6000 per week to $12,000 per week. Location ac-counts for much of the difference in prices: Theaters in Center City are pricier than the others. On the other hand, we are likely to sell more tickets in a centrally located theater than in one of the others. Judging by our recent productions, I think that we should be able to achieve 50% of our weekly box office potential (that is, 50% of what we would earn in a week if we sold all tickets to all performances at the maximum price) in Center City. Otherwise, 40% is a more reasonable expectation.
Take a look at the attached table for more details.
I have information about six theaters that could be suitable for our upcoming production. Their capacities range from 142 seats to 199 seats, and their rental rates range from $6000 per week to $12,000 per week. Location ac-counts for much of the difference in prices: Theaters in Center City are pricier than the others. On the other hand, we are likely to sell more tickets in a centrally located theater than in one of the others. Judging by our recent productions, I think that we should be able to achieve 50% of our weekly box office potential (that is, 50% of what we would earn in a week if we sold all tickets to all performances at the maximum price) in Center City. Otherwise, 40% is a more reasonable expectation.
Take a look at the attached table for more details.
The Lark: No
The Tulip: No
The Attic: Yes
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
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53% (02:28) correct
47%
(02:18)
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1. For each of the following theaters, select Yes if the managing director believes it is reasonable that each week the theater company will be able to earn more than $13,000 above the weekly rental price at that theater. Otherwise, select No.
| Yes | No | |
| The Lark | ||
| The Tulip | ||
| The Attic |
ShowHide Answer
Official Answer
The Lark: No
The Tulip: No
The Attic: Yes
Attachment:
2 (3).jpg [ 69.48 KiB | Viewed 2782 times ]
31 Jan 2025, 23:16
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To me. The lark doesn't located in the city center as it can sell much of 40% of its box office potential. So 18.900-6.500<13.000
Although The tulip is in the city center the subtraction of its 50% box office potential and rental is smaller than 13.000 which can't enough to the weekly plan.
However. It is not the case for The attic. Locating In the city center it can sell 50% potential (23.625$) and when rental price-10.000 is subtracted, it is higher than 13.000.
So.the answer is
No
No
Yes
Although The tulip is in the city center the subtraction of its 50% box office potential and rental is smaller than 13.000 which can't enough to the weekly plan.
However. It is not the case for The attic. Locating In the city center it can sell 50% potential (23.625$) and when rental price-10.000 is subtracted, it is higher than 13.000.
So.the answer is
No
No
Yes
01 Feb 2025, 13:00
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1. The question asks us to determine, based on the reasoning in the text, for which of the following theaters it's reasonable to say the profit will be more than $13000.
2. The Lark. Since it's not located in Center City, it's reasonable to say they'll earn 40% of the box office potential or $18900. The profit will then be $18900 - $6500 = $12400 < $13000. So, this theater is a no.
3. The Tulip. Since it's located in Center City, it's reasonable to say they'll earn 50% of the box office potential or $23625. The profit will then be $23625 - $11000 = $12625 < $13000. So, this theater is a no.
4. The Attic. Since it's located in Center City, it's reasonable to say they'll earn 50% of the box office potential or $23625. The profit will then be $23625 - $10000 = $13625 > $13000. So, this theater is a yes.
2. The Lark. Since it's not located in Center City, it's reasonable to say they'll earn 40% of the box office potential or $18900. The profit will then be $18900 - $6500 = $12400 < $13000. So, this theater is a no.
3. The Tulip. Since it's located in Center City, it's reasonable to say they'll earn 50% of the box office potential or $23625. The profit will then be $23625 - $11000 = $12625 < $13000. So, this theater is a no.
4. The Attic. Since it's located in Center City, it's reasonable to say they'll earn 50% of the box office potential or $23625. The profit will then be $23625 - $10000 = $13625 > $13000. So, this theater is a yes.
