b.  Is the data consistent year after year? Please explain any patterns or changes you see in the data.

 

c.  What might have occurred in 2012 to account for the highest number in attendance?  Why might the attendance gone down in 2014?

 

 

 

 

d.  Based on the analysis of past attendance, what might you expect this year?

 

 

 

 

 

 

3.  To determine what to charge the food vendors, analyze the table below for standard pricing that has been used at other fairs.  Decisions of how much space you have will determine what prices you will ultimately choose.

 

Size	Outside Cost per day	 Food Truck Space	Average amount made per day
8ft x 8ft In-line	$400.00	Â	$1800
8ft x 8ft Corner	$430.00	Â	$2000
8ft x 10ft In-line	$460.00	Â	$2400
8ft x 10ft Corner	$485.00	Â	$2600
8ft x 15ft In-line	Â	$520.00	$2800
8ft x 15ft Corner	Â	$550.00	$3000
9ft x 10ft In-line	$520.00	Â	$3500
9ft x 10ft Corner	$550.00	Â	$3700
10ft x 10ft In-line	$520.00	$550.00	$4000
10ft x 10ft Corner	$550.00	$575.00	$4500

 

Some fairs charge a percent of the amount the vendor takes in rather than charging for a site.  If a vendor was charged 25% of its total take for one day of the event, and they made on average the amount indicated beside each space, would it be more profitable or the fair committee than if you just charge the flat fee?

 

            Example: 

1.      First Calculate what 25% of 1800 is by multiplying 1800 by the decimal .25 which is the same as 25%.

 

.25  X  1800  = 450

 

2.  Now compare the cost per day for the 8 X 8 Inline space to the 25% of intake.  The base charge per day is $400.  The amount the vendor would pay if they had to give 25% of what they took in to the fair committee would be $450.  So it is probably less for them to pay a flat rate.  But it is a better deal for the Fair committee to take the 25%.

 

Work out this same relationship for each of the size spaces for the different vendors.  Show your work for each.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What recommendation would you make to the Fair Committee?  Charge a flat fee based on size of space or charge each vendor 25% of their sales regardless of the size of their space?  Why?

 

 

 

 

 

 

 

 

4.   Now you need to determine how much you will most likely receive from the ride operators.  They will not only use up a large space at the fair but will also need electricity that you will be supplying.  Use the information below to determine how much the fair will likely make in one day on the rides.

 

In general fairs charge around $40 additional per day for electricity. 

 

Your committee has already decided to not charge an additional fee for space but will take 20% of ride ticket sales. 

 

Ride	Rental Cost for 4 day fair	Average # of tickets sold per day last year
Dizzy Dino (kiddy Ride)	$3500	12000 (children and adults with young children)
Merry Go Round	$3500	12000  (children and adults with young children)
Ferris Wheel	$5000	20000
Double Ferris Wheel	$5000	20000
Roller Coaster	$5000	15000
Train (kiddy ride)	$3500	12000  (children and adults with young children)
Bumper Cars	$5000	10000
Swings	$5000	10000
Tilt a Whirl	$5000	15000
Gravitron	$6500	20000

 

There is expected to be 10000 people per day at the four day event.  About one third (1/3) of these are children.  However, the most of the children require an adult to ride with them.

 

Tickets cost $1 each for both child and adult fare. 

 

            a.  Calculate the total cost of renting the rides for the fair   ­­­­______________________.

 

 

 

 

All children’s rides take one ticket each.

All adult rides take two tickets each (except the Gravitron)

The Gravitron takes 3 tickets

 

b.  How many people rode rides last year based on how many tickets it took to ride each ride?  _______________________________________________.

 

 

c.  If you want to sell 1.75 as many tickets this year than you sold last year, how many tickets would you have to sell in total?

            To set up the problem to determine this:

            Multiply 1.75 X  the total number of tickets sold last year

 

 

 

 

 

 

 

 

 

 

 

d.  Is it reasonable to rent the same rides at the price listed or would you change the rides or number of children and adult rides? Why?

 

 

5.   Now that you have completed all the analysis and answered all the questions on the worksheet, you are ready to make some recommendations on the following:

 

FOOD VENDORS	RECOMMENDATION	REASONING
Small Food Vendors	Â	Â
Large Food Vendors and Food Trucks	Â	Â

 

 

Fill in the table below with the recommended number of rides for each level based on projected ticket sales.  Remember you want to attract the largest number of visitors but also want to take in the most money by selling the largest number of tickets.  

 

RIDE TYPE	NUMBER RECOMMENDED
Children’s	Â
Adult	Â
Super Size	Â