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The Alice Tully Hall in New York City has a seating capacity of 1096. The cost of each ticket averages about $97, and they have presold 812 tickets. Which range of values is the closest to their estimated total revenue if t represents the total revenue from ticket sales

Answer :

OLADAYOADEMOSUGO

The range of values closest to the estimated total revenue from ticket sales is 0 ≤ t ≤ $ 78764

To answer the question, we need to know what total revenue is

What is total revenue?

This is the total amount obtained from the sale of a set of items.

Now, since cost of each ticket averages about $97, and they have presold 812 tickets.

The total revenue, t = cost of ticket × number of tickets sold

Given that

  • cost of ticket = $97 and
  • number of tickets sold = 812

So, substituting the values of the variables into the equation, we have

total revenue, t = cost of ticket × number of tickets sold

t = $ 97 × 812

= $ 78764

Since $ 0 is the minimum value for t, the range of values for the total revenue is 0 ≤ t ≤ $ 78764

So, the range of values closest to the estimated total revenue from ticket sales is 0 ≤ t ≤ $ 78764

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