Question: please complete 1.1. thank you Problem: Broadway We are thinking of opening a Broadway play, LaLa Land. It would cost $12 million to develop the

please complete 1.1. thank you
please complete 1.1. thank you Problem: Broadway We are thinking of opening
a Broadway play, LaLa Land. It would cost $12 million to develop
the show. There are 13 shows per week. It costs $1000 to

Problem: Broadway We are thinking of opening a Broadway play, LaLa Land. It would cost $12 million to develop the show. There are 13 shows per week. It costs $1000 to open the theatre each night (seven nights a week). We earn an average of $1.85 profit per ticket holder from concessions. The theatre capacity is 800. Weekly total payroll is $70,000. There are two decision variables: i) Number of weeks to run the show (Number of weeks). ii) Unit ticket price. Suppose that the Percent seats filled on average is a function of these two decision variables, and it is given as follows. Percent seats filled =100% - Unit_ticket_price /200 - Number_of_weeks /1000 Start with the following initial values for the decision variables: 1) number of weeks =100 weeks, and 2) unit ticket price =$45. (Note: decision variables can change throughout your solutions.) Questions 1. Data Dictionary 1.1 Write your data dictionary for each variable in Spreadsheet "Data descriptions

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!