Predict ticket sales for the upcoming season

Assignment Help Business Management

Reference no: EM1380463

Stillwater Creek Parakeets a minor association baseball team has lent you as a consultant to predict ticket sales for the upcoming season and to advice on changes in ticket prices.

a. The elasticity of ticket sales with reverence to the local population is estimated to be 0.9. If the local population rises from 130,000 to 140,000, explain what is the predicted change in ticket sales?

b. The current price is $7.50. If price elasticity of demand is -0.85 forecast the percentage change in tickets if price is raised to $8.50. Will revenue increase or fall? How does your answer alteration if price elasticity is -1.1?

c. You have projected income elasticity to be 0.75. Describe what this means and why it is important for management.

Reference no: EM1380463

Questions Cloud

Sharing a large computer file : Assume you are sitting at desk at office and using your laptop computer. The boss calls an emergency meeting for you and many colleagues, and asks everyone to bring his or her laptop computer.

Computations of database characteristics : A file has r=20,000 student records of fixed-length. Suppose the file is ordered by SSN; compute the number of blocks it takes to search for a record given its SSN value by doing a binary search.

You may write on an ethical dilemma you have individually : You may write on an ethical dilemma you have individually experienced provided it isn't something that is confidential or seen at work

Paul has confined some powerful words for the believer : Paul has confined some powerful words as well as encouragement for the believer. Our call to sacrificially submit ourselves to others doesn't begin with our sacrifice however with God's blessings

Predict ticket sales for the upcoming season : You have projected income elasticity to be 0.75. Describe what this means and why it is important for management.

Most populations with reliable data birth rates vary : For instance in most populations with reliable data birth rates vary by the season of the year. The seasonality of births isn't identical in all populations.

Create a fantasy company that you have been operating : Create a fantasy company that you have been operating in the national arena for some time. Your group signifies top management and you have decided it is time to go international.

Rice as alternative fuel source for the country : Our project is Rice as alternative fuel source for the country. Create an imagined company that you have been operating in the domestic arena for some time.

Define the difference between a transformational leader : Define the difference between a Transformational and Charismatic leader. Give an instance of a current or past leader that exemplifies each kind of leadership style and describe why they fit this style.

User Account

All Pages