[Help] Really quick throwaway maths question (I'm useless)

[jcdenton08]

Got a "U" in maths, and all my mates are thick too



Phantom of the Opera, centre stalls seat 2004. 27 piece orchestra, original production - £45. Adjusted for inflation, £70.66 in 2020. Programme £3.

Phantom of the Opera, centre stalls seat 2021. 14 piece orchestra, "new" production - £89.50.
Programme price TBC.

Inflation averaged 2.9%, a like-for-like ticket increased in price by 26.6%.

This is a 23.7% increase above inflation.


Is this correct?

 

[GREASED WEASEL]

I thought it was going to be 128 ÷3

 

[Bry Nylon]

Got a "U" in maths, and all my mates are thick too



Phantom of the Opera, centre stalls seat 2004. 27 piece orchestra, original production - £45. Adjusted for inflation, £70.66 in 2020. Programme £3.

Phantom of the Opera, centre stalls seat 2021. 14 piece orchestra, "new" production - £89.50.
Programme price TBC.

Inflation averaged 2.9%, a like-for-like ticket increased in price by 26.6%.

This is a 23.7% increase above inflation.


Is this correct?

Raise it with The Society of West End Musicals.


If you're lucky they'll make a song and dance about it.

 

[schmunk]

If I understand your question correctly:

The price should have inflated (70.66-45)/45 = 57.0%

The price did inflate (89.50-45)/45 = 98.9%

The additional price inflation is (89.50-70.66)/45 = 41.9%


Edit: sorry, I didn't spot that one was 2020 and the other 2021, but what's a year between friends...?

 

[Sid in the Sharknado]

£89 / £45 = 1.98, not 1.266 as it would be if the price had increased by 26%.


I'll say straight away that I'm not great at this sort of thing, so I'm happy to be corrected if wrong:
The equivalent inflation rate to get to £89 from £45 over 16 years is 4.35%. That is 1.45 percentage points over the average 2.9%, assuming that value is correct. Put another way, it's 1.5 times the average rate of inflation.

 

[nwgull]

He's saying that last years theoretical (I think) price was £70.66 - presumably using the BoE inflation calculator.

In this case you're right, except inflation rates are currently <1% so it's even more.

 

[jcdenton08]

He's saying that last years theoretical (I think) price was £70.66 - presumably using the BoE inflation calculator.

This is correct

 

[nwgull]

This is correct

What was the actual price in 2020 before everything was closed down?

 

[Weststander]

3.1428

 

[Sid in the Sharknado]

This is correct

What is it you're actually trying to work out?
It's true that an average 2.9% inflation will take you from £45 to about £71 over 16 years.

 

[1066familyman]

Raise it with The Society of West End Musicals.


If you're lucky they'll make a song and dance about it.

 

[jackanada]

Got a "U" in maths, and all my mates are thick too

Phantom of the Opera, centre stalls seat 2004. 27 piece orchestra, original production - £45. Adjusted for inflation, £70.66 in 2020. Programme £3.

Phantom of the Opera, centre stalls seat 2021. 14 piece orchestra, "new" production - £89.50.
Programme price TBC.

Inflation averaged 2.9%, a like-for-like ticket increased in price by 26.6%.

This is a 23.7% increase above inflation.


Is this correct?

It's a 26.6% increase above inflation just like your question states.

 

[Shropshire Seagull]

Ok next one, what is the square-root of minus nine?

 

[Is it PotG?]

Ok next one, what is the square-root of minus nine?

Is it 7?

 

[Harry Wilson's tackle]

If I understand your question correctly:

The price should have inflated (70.66-45)/45 = 57.0%

The price did inflate (89.50-45)/45 = 98.9%

The additional price inflation is (89.50-70.66)/45 = 41.9%


Edit: sorry, I didn't spot that one was 2020 and the other 2021, but what's a year between friends...?

You need to correct it for change in orchestra size.

 

[GT49er]

Got a "U" in maths, and all my mates are thick too



Phantom of the Opera, centre stalls seat 2004. 27 piece orchestra, original production - £45. Adjusted for inflation, £70.66 in 2020. Programme £3.

Phantom of the Opera, centre stalls seat 2021. 14 piece orchestra, "new" production - £89.50.
Programme price TBC.

Inflation averaged 2.9%, a like-for-like ticket increased in price by 26.6%.

This is a 23.7% increase above inflation.


Is this correct?

No, it''s a diabolical liberty!

 

[Harry Wilson's tackle]

Ok next one, what is the square-root of minus nine?

i3

 

[GT49er]

3.1428

Better value than the half time pi's at The Amex?

 

[Wrong-Direction]

Pie

Sent from my SM-A715F using Tapatalk

 

[Triggaaar]

Inflation averaged 2.9%, a like-for-like ticket increased in price by 26.6%.

This is a 23.7% increase above inflation.

Is this correct?

No. If your figure of £70.66 was correct (I think it should be £73.16), then £89.50 would be 26.7% more than that, so that's 26.7% over 17 years.

Not 26.7% - 2.9% = 23.8% per year.

To get to £89.50, prices have risen by 4.1% per year (1.2% over your 2.9% inflation figure).