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12 May, 13:57

A venue plans to host trucking events regularly throughout the year. The expected revenue from each event is $100,000. The cost for hosting this type of event is $50,000 per event. If the venue wants to make a total profit margin of $2,350,000, how many events does the venue have to host throughout the year?

Answer 45

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  1. 12 May, 14:04
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    47 meetings

    Step-by-step explanation:

    1. You know the company generates 100,000 dollars in profits, and pays 50,000 dollars to host the event, therefore, subtract both numbers to determine how much profit they make.

    100,000 - 50,000 = 50,000 dollars

    2. You now know that company generates 50,000 dollars in profits for each meeting

    3. You also know that the company is aiming for a profit of 2.35 million, so you would divide the the goal by the total profits per meeting

    2,350,000/50,000 = 47

    It takes 47 meetings for the company to reach their goal.
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