Ticket Pricing (1 Viewer)

[Peter Quill]

Hello Everyone, I am attempting to solve a problem using solver that I built to complement a scenario that my students encountered while using a platform called knowledge matters. The long and short of it is that the students were tasked with figuring out the ticket prices for six sections in a stadium to generate $575,000 in profit to pass the simulation. I am trying to figure out the optimal ticket pricing to maximize revenue instead of guessing and checking. The constraints that I have would be seating capacity with changing cells being the prices. The target cell is the total revenue. I have attached the sheet. Any assistance would be greatly appreciated.

Dynamic Ticket Pricing

 

[Uncle Gizmo]

I note that you have yet to receive a reply. I am replying to your post so that it is bumped up the list of posts in the hope that it will get another look...

 

[Isaac]

no attachment and most people wont' click external links

 

[GPGeorge]

Spoiler: etc

Hello Everyone, I am attempting to solve a problem using solver that I built to complement a scenario that my students encountered while using a platform called knowledge matters.

The long and short of it is that the students were tasked with figuring out the ticket prices for six sections in a stadium to generate $575,000 in profit to pass the simulation.

Spoiler: etc

I am trying to figure out the optimal ticket pricing to maximize revenue instead of guessing and checking. The constraints that I have would be seating capacity with changing cells being the prices. The target cell is the total revenue. I have attached the sheet. Any assistance would be greatly appreciated.

Dynamic Ticket Pricing

Is this a class assignment you need to complete for a grade? Or are there other students for whom you are working on a solution?

 

[coba4ken]

Using a solver to optimize ticket pricing is a smart approach. If you haven't already, consider setting constraints for minimum and maximum ticket prices based on market research. Additionally, incorporating demand elasticity into your model could further refine your pricing strategy to maximize revenue!

 

[coba4ken]

what?

 

[Isaac]

mistake on my part, I liked both your posts to make up for it

 

[coba4ken]

thanks!