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The University of Michigan football stadium, built in 1927, is the largest college stadium in America, with a seating capacity of 110,500 fans. Assume the stadium sells out all six home games before the season begins, and the athletic department collects $86.19 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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Shahzaibfaraz

Answer:

The average price per season ticket is $780

The average price per individual game ticket is $130

Explanation:

The season involves 6 home games. Thus, a season ticket entitles you to attend six home games. The capacity of the stadium is 110500 fans per game. Thus, for a season of 6 games, the number of total fans to attend will be,

Season total attendance = 6 *110500   =  663000 fans

Average ticket price per game will be = 86,190,000 / 663,000

Average ticket price per game will be = $130

As the season involves 6 games and the average ticket price per game is $130, the average price per season ticket will be,

Average price per season ticket = 130 * 6     = $780

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