CS 107 Introduction to Data Processing Spring 2006 Midterm Extra Credit

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Using Goal Seek to determine Optimal Ticket Prices You are now president of your local Community Theater and you are trying to determine the optimal prices for your tickets. You will be creating a report using MS Word and MS Excel to share with the Community Theater Board Members about your findings. Your group needs to increase income and can do so either by increasing ticket sales, or by adjusting ticket prices, or maybe a bit of both. Your report should start with a paragraph explaining what you are about to show the Board and why you feel it is important. Be sure to include the spread sheet of your most recent show returns. Next, use each of the Goal Seek scenarios listed below as examples for your report. After each Goal Seek, you should cut and paste your Excel Spread sheet into Word and explain the Board what each spread sheet means. Complete your report with your recommendations for what you feel would yield the best result for the Community Theater. Use the information, from your most recent show, below as a starting point for your report. Price Per Ticket Tickets to Sell Child Ticket $3.00 75 Adult Ticket $5.00 125 Senior Ticket $4.00 105       Box Office Income =(B2*C2)+(B3*C3)+(B4*C4)

Goal Seek Number of Tickets Sold

1. Childrens Tickets

   How many childrens tickets would need to be sold at a price of $3.25 assuming a box office income of $3,000, 225 adult tickets sold at $6.50, and 100 senior tickets sold at $4.75

2. Adult Tickets

   How many adult tickets would need to be sold at $6.50 assuming a box office income of $2,500, 200 childrens tickets sold at $3.00, and 75 senior tickets sold at $4.50

3. Senior Tickets

   How many senior tickets would need to sold at $4.25 assuming a box office income of $2,750, 175 childrens tickets sold at $3.50, and 250 adult tickets sold at $7.00

Goal Seek Ticket Prices

1. Childrens Tickets

   What should the price of a childrens tickets be assuming 150 childrens tickets are sold, a box office income of $2,750, 250 adult tickets sold at $6.00, and 150 senior tickets sold at $5.00

2. Adult Tickets

   What should the price of an adults tickets be assuming 125 adults tickets are sold, a box office income of $2,500, 200 childrens tickets sold at $4.00, and 110 senior tickets sold at $5.75

3. Senior Tickets

   What should the price of a senior tickets be assuming 225 seniors tickets are sold, a box office income of $4,000, 175 childrens tickets sold at $5.00, and 250 adult tickets sold at $7.50

You may add any additional information to your report that you feel will assist you in getting your point across to the Board

Due Date: May 10, 2006

Last Updated: 4/4/06