The table shows the number of seats available at each price tier for

Question

https://gmatclub.com/forum/download/file.php?id=88476 The table shows the number of seats available at each price tier for a concert venue. What is the average (arithmetic mean) cost of a ticket to the concert? (A) $75 (B) $100 (C) $125 (D) $150 (E) $175 This is a PS Butler Question Check the links to other Butler Projects: Data Sufficiency Butler Critical Reasoning Butler GMAT-Club-Forum-ilzmeog5.png

Bunuel · Accepted Answer

GMATNinja Video Solution:

https://www.youtube.com/watch?v=DfoK59HOI2s

yugam07 · Answer

We've to take weighted average of ticket prices, where weights would be determined by composition of seats in each tier.

I'd scale down the number of seats by factor of 100 for simplification,
Seats in each tier now becomes, 40, 30, 25, 5 respectively

Wtd. Average = SUM(Xi*Yi)/SUM(Xi), where Xi denotes Ticket prices, and Yi is Number of seats for ith tier
Solving this we'd get 100

B is correct IMO

The_ashura · Answer

Step 1: Simplify the seat counts by dividing each by 500 to work with smaller numbers.
Silver: 4000 / 500 = 8 parts
Gold: 3000 / 500 = 6 parts
Platinum: 2500 / 500 = 5 parts
Diamond: 500 / 500 = 1 part

Total relative parts = 8 + 6 + 5 + 1 = 20 parts

Step 2: Calculate the weighted revenue using the simplified parts.
Silver revenue contribution: $50 * 8 = $400
Gold revenue contribution: $100 * 6 = $600
Platinum revenue contribution: $150 * 5 = $750
Diamond revenue contribution: $250 * 1 = $250

Total relative revenue = $400 + $600 + $750 + $250 = $2,000

Step 3: Calculate the average ticket cost by dividing total relative revenue by total relative parts.
Average cost = $2,000 / 20 = $100

Correct Answer: (B) $100

BongBideshini · Answer

The ratio of the seats is  8:6:5:1 
 Average= 
 \frac{50 * 8 + 100 * 6 +150 * 5 + 250}{20} 
 = \frac{2000}{20} 
 =100
 Ans B

harjas2222 · Answer

I believe this question wanted us to do a simple step

Silver - 50* 4,000 = 200,000
Gold - 100*3,000= 300,000
Platinum - 150*2,500=375,000
Diamond - 200*500=125,0000
 sum=$1,000,000

Divide $1,000,000/ Total no. of seats
 $1,000,000/ 10,000
 = $100

Hope this explains it

nammolestias · Answer

total=(50*4000)+(100*3000)+(150*2500)+(250*500)
=200000+300000+375000+125000
=1000000
avg=1000000/10000
=100

The table shows the number of seats available at each price tier for

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The table shows the number of seats available at each price tier for

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