Micromedia offers computer training seminars on a variety of topics. In the seminars each student works at a personal computer, practicing the particular activity that the instructor is presenting. Micromedia is currently planning a two-day seminar on the use of Microsoft Excel in statistical analysis. The projected fee for the seminar is $300 per student. The cost for the conference room, instructor compensation, lab assistants, and promotion is $4800.
Micromedia rents computers for its seminars at a cost of $30 per computer per day.
a. Develop a model for the total cost to put on the seminar. Let x represent the number of students who enroll in the seminar.
b. Develop a model for the total profit if x students enroll in the seminar.
c. Micromedia has forecasted an enrollment of 30 students for the seminar. How much profit will be earned if their forecast is accurate?
d. Compute the breakeven point.