Problem
I. What is the restaurants cost equation for estimating costs if the numbers of guest to be served is up to 14000 guest per months.
II. If the restaurant were to serve 13000 guest in may what would be the: (i) estimated total cost (use the cost equation from requirement I) (ii) average cost per guest?
III. If the restaurant were to serve 11000 guest in June what would be the (i) estimated total cost using the cost equation from requirements I? (ii) Estimate total cost using the average per guest cost from requirement II(ii), (iii) why is there a difference in the two cost estimates?
IV. What is the restaurant cost equation for estimating cost if the number of guests to be served is more than 14000 guests per month?
V. If the restaurant were to serve 15000 guests in July, what would be the estimated total cost? (Use the cost equation from requirement IV.)