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QUESTIONS :
1. Students are organizing a “Battle of the Bands” contest. They know that at least 100 people will attend. The rental fee for the hall is $200 and the winning band will receive $500. In order to guarantee that they break even, how much should they charge for each ticket? (Note: Write your answer with two significant places after the decimal and do not include the dollar “$” sign. For instance, for five dollars, write your answer as 5.00).
2. Suppose that a production process requires a fixed cost of $50,000. The variable cost per unit is $10 and the revenue per unit is projected to be $50. Find the break-even point.
3. Consider the following linear program, which maximizes profit for two products, regular (R), and super (S): MAX50R + 75S s.t. 1.2R + 1.6 S ≤ 600 assembly (hours) 0.8R + 0.5 S ≤ 300 paint (hours) .16R + 0.4 S ≤ 100 inspection (hours)
