Use the Table Below to Create a Nonlinear Model Based

question 13

Multiple Choice

Use the table below to create a nonlinear model based on the table to answer the following questions) .
The Atlas Movies Theater is planning to reprice their ticket rates to maximize revenues. They have three classes of tickets: Classic, Silver, and Gold. The table below provides information on the average ticket sales, revenue and price elasticity on demand. They have a total seating capacity of 300. The table also provides the price range within which they plan to reduce their ticket rates. $$\begin{array} {| l | l | l | l | l | l | l | } \hline \begin{array} { l } \text { Atlas Mavie } \\\text { Theater } \\\text { Ticketing }\end{array} & & & & & & \\\hline & & & & & & \\\hline \text { Data } & & & & & & \\\hline & & & & & & \\\hline \text { Ticket Class } & \begin{array} { l } \text { Current } \\\text { Rate }\end{array} & \begin{array} { l } \text { Avernge } \\\text { Daily } \\\text { Sald }\end{array} & \text { Elasticity } & \begin{array} { l } \text { Tatal } \\\text { Seating } \\\text { Capacity }\end{array} & { \text { Price Range } } \\\hline \text { Classic } & \$ 8.45 & 150 & - 1.5 & 300 & \$ 6.50 & \$ 7.50 \\\hline \text { Silver } & \$ 13.25 & \mathbf { 8 0 } & - 2 & & \$ 1.50 & \$ 12.50 \\\hline \text { Gald } & \$ 17.50 & \mathbf { 3 0 } & - 1 & & \$ 15.50 & \$ 16.50 \\\hline\end{array}$$
-Which of the following is true of the nonlinear model created for the Atlas movie ticket repricing scenario?

• A) The projected revenue for the Gold class is infeasible within the price range provided.
• B) The projected value for most tickets sold is for the Silver class.
• C) The total projected tickets sold exceed the total seating capacity.
• D) The projected revenue is lowest for the Gold tickets.

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Definitions:

Frames

in the context of communication and perception, refers to the mental structures that shape the way individuals interpret and respond to information.

Conversations

The informal exchange of ideas, information, or feelings between two or more people through spoken word or written communication.

Metaphors

Figurative language used to represent concepts or ideas by comparing them explicitly or implicitly to something else.

Analogies

Comparisons made between two different things that highlight a similarity or relational understanding.