SOLUTION TO Case 5-2 & 6-2
Refer to and use the following abbreviations for the problems below: R = Royalty Payment CT = Artist Credit Total SV = Share Value CV = Credit Value RP = Retail Price PD= Packaging Deduction R%=Royalty Percentage of Suggested Retail Price minus packaging
1. Ziam wants to know how much his royalty will be for a song he has written. How will it be calculated? Write the steps or the formulas that will be used to calculate his royalty payment.
2. Ziam has written a popular song titled Going There, which has been recorded by a well-known performer. He recently received a royalty check for $7,000. If Ziam gets a 0.5 share of the royalties and the credit value is $3.50, what was the credit total that his song earned? Write out the problem in the form of an equation and solve it.
3. Ziam quickly published another song, Take Me There, that is played even more often than Going There. If his first song earns 4,000 credits and his second song earns 6,000 credits, what will the royalty payment be from the two songs if the credit value remains at $3.50?
4. Ziam is considering an offer to perform his own songs on a CD to be titled Waiting There. In the past, he has written but not performed his music. If Ziams royalty is 0.12 of the suggested retail price of $15.00, but 0.25 of the retail price is deducted for packaging before Ziams royalty is calculated, how much will he receive for sale of the CD? Write your answer in the form of an equation and solve it.
Use the equation below and show your work in this cell to solve for the royalty payment. Manual Equation: R = (CT)(SV)(CV)
Case 6-2 Template
1. What percentage of the total does each of the four customer groups represent? Round to the nearest hundredth of a percent.
2. Minhs data shows that on average only 4.6% of customers were purchasing complementary services available within Media Systems. By using his companys services, Minh was projecting that these percentages would triple across all user groups within 1 year. a) How many customers would that equate to in total for each group? b) What would be the difference compared to current levels?
3. Customer complaint data showed that within the last year, complaints by category were as follows: publication subscribers, 1,174; advertisers, 423; telephone service customers, 4,411; and ISP customers 823. a) What percentage of customers (round to two decimal places)complained within the last year in each category? b) If the CRM software were able to reduce complaints by 50% each year over the next 2 years, how many complaints would there be by category at the end of that time period? And c) What would the number of complaints at the end of 2 years represent on a percentage basis?
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