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21 September, 07:28

The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 111,500 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $93.66 million in ticket sales. Required: 1. What is the average price per season ticket and average price per individual game ticket sold

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  1. 21 September, 09:07
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    a. $840

    b. $140

    Explanation:

    a. The calculation of the average price per season ticket is shown below:-

    Average price per season ticket = Total price of season tickets : Sitting capacity

    = $93,660,000 : 111,500

    = $840

    b. The calculation of average price per individual game ticket sold is shown below:-

    Average price per individual game ticket sold = Average price per season ticket : Six home games

    = $840 : 6

    = $140

    Therefore we simply applied the above formula for computing the average price per season ticket and average price per individual game ticket sold.
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