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In Mathematics / High School | 2014-04-12

The Math Club plans to pay a visitor $280 to speak at a fundraiser. Tickets will be sold for $7 each.

1. Find an equation that gives the profit/loss for the event as it varies with the number of tickets sold.

2. How many people must attend the event for the club to break even?

Asked by shanaviamcfadde

Answer (3)

Equation: Profit = Price of tickets*number of tickets - initial cost
Let t be the number of tickets Let p be the profit p = 7t-280
To Break Even: In order for the club to break even, p must be equal to 0, and so the equation can be rewritten as: 0 = 7t-280 7t = 280 t = 280/7 t = 40 tickets

Answered by ezhai | 2024-06-10

A minimum of 40 people must attend the event for the club to breakeven such that the cost of the speaker to speak is $280 and the selling price of a ticket is $7 .
Breakeven
Breakeven is a point where the cost price and the selling price of the commodity are the same. In other words, the seller is neither is loss nor in profit.
We will first determine the breakeven point and equate it with the total amount received by selling the tickets to determine the minimum number of tickets to be sold to attain the breakeven.
How to determine the breakeven point?
Let the number of tickets sold be x .
According to the question,
The fundraiser will be in profit if, 280"> 7 x > 280
The fundraiser will be in loss if, 7 x < 280
Now, to determine the breakeven point-
7 x = 280 x = 7 280 ​ x = 40
Thus, a minimum of 40 people must attend the event for the club to breakeven.
Learn more about breakeven here- https://brainly.com/question/15172639
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Answered by ashutoshmishra3065 | 2024-06-15

The profit/loss equation for the Math Club's fundraiser is P = 7 x − 280 , where x is the number of tickets sold. The club needs to sell at least 40 tickets to break even. Selling fewer than 40 tickets will result in a loss.
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Answered by ashutoshmishra3065 | 2024-12-24

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