Planning a Dance

Your class has been engaged in various fund-raising projects during the past several years, and you now have a total of $9,635 to spend on a big bash – your last school dance. You may not spend more this amount on the dance, but you do not have to spend all of it on the dance. Any remaining money can be used for a class project, designed to help your school or community.

You have decided that there are three categories of expenditures for the dance and a committee has provided the following information (cost for each is in parenthesis):

Music for Dance – hiring a band or disc jockey  Disc Jockey o Pig Sty – cheap but good ($1,000) o Good Vibrations – excellent music selections and sound system ($2,000)  Live Bands o Pumkin Chunkin – good progressive country ($2,500) o Angelic Sinners – good hard rock ($4,000) o Our Rage – a popular group featuring rap music ($5,000) o Funky Fugues – nationally known touring group, classic rock and roll ($6,500)

Places Available for Dance  School Gym ($200)  American Legion Hall ($600)  Holiday Inn ($1,500)  The Hilton Hotel ($2,000)  The Knob Hill Country Club ($3,000)

Refreshments and Decorations for Dance  School Service Club prepares sandwiches, chips, etc. and limited decorations ($800)  Catered – pizza, wings, sandwich platter and decorations ($1,200)  Catered – pizza, chicken fingers, salad bar, taco bar, pasta bar and neat decorations ($3,000)  Package deal – pre-dance meal at a restaurant; good snacks and decorations at dance ($5,000)

Your task now is to decide, with the other members of your group, which band or disc jockey to hire, where to hold the dance, what type of refreshments and decorations to provide, and how much money to spend on a class project. Your group must select one item for each expenditure category.  Music?  Location?  Food and Decoration?  Class Project (indicate how much to spend on project?) DANCE CHOICES GROUP BAND or DJ PLACE FOOD PROJECT

What were the 1st choices for each decision?

What were the 2nd choices for each decision?

What are your opportunity costs?

After making the top choice, what money is left? What should the class project be?