Answer:
a).The maximum revenue for the owner of the yacht will only be possible at maximum capacity, when total number of passengers=90
b). Total maximum revenue=$42,400
c).The fare per passenger=$471
Explanation:
a).The maximum revenue for the owner of the yacht will only be possible at maximum capacity, when total number of passengers=90
b). Total maximum revenue
Total revenue=Chargers per person for the first 20+Total amount for additional people
where;
Charges per person for the first 20=(552×20)=11,040 per day
A discount of $4 for additional persons=(552-4)=448 per day for all additional persons
Additional people=(90-20)=70
Total amount for the additional people=(448×70)=31,360 per day
Replacing;
Total revenue=(11,040+31,360)=$42,400
Total maximum revenue=$42,400
c). Fare per passenger
Fare per passenger=Total maximum revenue/total number of passengers
where;
Total maximum revenue=$42,400
Total number of passengers=90
replacing;
Fare per passenger=42,400/90=471.11 to nearest dollar=$471
The fare per passenger=$471
