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The Math Club plans to pay a visitor $280 to speak at a fundraiser. Tickets will be sold for $7 each. Find an equation that gives the profit/loss for the event as it varies with the number of tickets sold.  How many people must attend the event for the club to break even?



Answer :

Equation:
Profit = Price of tickets*number of tickets - initial cost

Let t be the number of tickets
Let p be the profit
p = 7t-280


To Break Even:
In order for the club to break even, p must be equal to 0, and so the equation can be rewritten as:
0 = 7t-280
7t = 280
t = 280/7
t = 40 tickets
ashutoshmishra3065

A minimum of 40 people must attend the event for the club to breakeven such that the cost of the speaker to speak is [tex]\$280[/tex] and the selling price of a ticket is [tex]\$7[/tex].

Breakeven

Breakeven is a point where the cost price and the selling price of the commodity are the same. In other words, the seller is neither is loss nor in profit.

We will first determine the breakeven point and equate it with the total amount received by selling the tickets to determine the minimum number of tickets to be sold to attain the breakeven.

How to determine the breakeven point?

Let the number of tickets sold be [tex]x[/tex].

According to the question,

The fundraiser will be in profit if, [tex]7x > 280[/tex]

The fundraiser will be in loss if, [tex]7x < 280[/tex]

Now, to determine the breakeven point-

[tex]7x=280\\x=\dfrac{280}{7}\\x=40[/tex]

Thus, a minimum of 40 people must attend the event for the club to breakeven.

Learn more about breakeven here- https://brainly.com/question/15172639

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