Answer:
$11.66
Step-by-step explanation:
To find the average price, you need to find the total revenue, then divide that by how many tickets were sold.
2,000 * 15 = ? --> 30,000
*To find how how much money was made from the $15 tickets*
4,000 * 10 = ? --> 40,000
*To find how how much money was made from the $10 tickets*
30,000 + 40,000 = ? --> 70,000
*To find the total revenue*
2,000 + 4,000 = ? --> 6,000
*To find the total amount of tickets sold*
70,000 / 6,000 = ? --> 11.66666...
Average price per ticket
The average price per ticket is the ratio of the Cummulative earning and the total number of tickets sold, Hence, average price per ticket is $11.67
The Cummulative earning :
(4000 × $10) + (2000 × $15) = $70000
Total number of tickets sold
(2000 + 4000) = 6000 tickets
The average price per ticket :
$70000 ÷ 6000 = $11.67
Therefore, the average price per ticket is $11.67
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