An estimated 150,000 people attended the Coconut Grove art festival over a 3-day period. Admission to the event is $10 per person. In addition, suppose that each person spends an average of $100 on art, drinks, and food. a. How much money is initially infused into the local economy during the festival for admission, art, drinks, and food. b. If the money is later respent in the community over and over again at a rate of 70%, determine the total amount spent. Assume that the money is respent an infinite number of times.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
An estimated 150,000 people attended the Coconut Grove art festival over a 3-day period. Admission to the event is $10 per person. In addition, suppose that each person spends an average of $100 on art, drinks, and food.
a. How much money is initially infused into the local economy during the festival for admission, art, drinks, and food.
b. If the money is later respent in the community over and over again at a rate of 70%, determine the total amount spent. Assume that the money is respent an infinite number of times.
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