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Econ3300Homework1

# Econ3300Homework1 - Page 22 Micromedia offers computer...

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Page 22 Problem 13 13. 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 \$300 per student. The cost for the conference room, instructor compensation, lab assistants and promotion is \$4800. Micromedia rents computers for its seminar at a cost of \$30 per computer per day. a. Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar. total cost=4800+30*2*x=4800+60x b. Develop a model for the total profit if x students enroll in the seminar. total profit=revenue- cost=300x-(4800+60x)=240x-4800 c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if their forecast is accurate? if 30 students enrolled, then

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Econ3300Homework1 - Page 22 Micromedia offers computer...

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