a carnival wants to estimate its tatal potential revenue on popcorn sales
In order to estimate the total potential revenue on popcorn sales at a carnival, the following information would be needed:
1. Total attendance: Determine the expected number of people attending the carnival. This can be based on previous years' attendance data or by analyzing the target market and advertising efforts.
2. Popcorn price: Determine the price at which popcorn will be sold. This can be based on market research or by analyzing the pricing strategies of similar events in the area.
3. Popcorn consumption rate: Estimate the average amount of popcorn each attendee is likely to consume. This can be based on previous years' data or industry averages.
With this information, the estimate for total potential revenue on popcorn sales can be calculated as follows:
Total Potential Revenue = Total Attendance * Popcorn Price * Popcorn Consumption Rate
It is important to note that this estimate may not be completely accurate as it relies on assumptions and estimations. However, it can provide a rough idea of the potential revenue from popcorn sales at the carnival.