International Sporting Event Money

Difference in revenue between Summer Olympics and FIFA Cup

Introduction (the Situation):

This comparative research shows the difference in the cumulative revenue (money in trillions) made through the total number of spectators in two international sporting events: the Summer Olympics and the FIFA World Cups, while subtracting the money (in dollars) gone toward setup. Which one has greater money, with all factors above considered?


Due to the fact there are multiple events, matches, and stages in both events, the mean (average) of the most recent ticket pricings will be taken into consideration to ensure the cost is correct.


-Know that the data shown below is an approximation of current announcements, ultimately depicted through cross referencing.

The Variables:

This data will be represented through equations (expressed in standard format and standard form), tables, and graphs for broader perspective and better understanding.


The data expressed in the equation of a straight line y = mx + b format:

The variables to calculate trends and specific information in the data will primarily be expressed through y = mx + b format.


The total money earned (revenue) will be represented by C.

The price of tickets (in dollars) will be shown through M.

The number of spectators (in millions) will be represented by X.

The cost (in trillions) to organize and set up the events will be shown through B.


Therefore, we form our equation as c = mx – b, which perfectly portrays the total money earned C (dependent variable: y), varies upon the number of people attending and payed (independent variable: x), subtracted from the arrangement value.

Analyzing Data and Process:

To determine the value of the total arrangement price (B), through research I found (through research) that on average, the Summer Olympics typically arrangement costs are 2,100,000,000 dollars. Whereas, the FIFA World Cup cost would average at 1,100,000,000 dollars.


Equation of a line depicting the earning in y = mx + b

According to these assigned values, the equation is c = mx + b

Therefore, the total cost, would now be represented through the equation (in trillions for B):
c = mx - b

c = mx - 2.1 (for Summer Olympics)

c = mx - 1.1 (for World Cup)


These values are subtracted from their respective totals to establish an accurate value of earning from both sporting competitions.


I also found the ticket pricing for both are very similar.


Summer Olympics:

The exclusive ticket (all event and match access) for the Olympics would be found through utilizing the rise/run method (subtract y from x in this scenario) to find M: the slope (in this scenario the price of each ticket).

Y = Money Made Billions

X = Total Attendance (in Millions)

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Take Y5 and X5 = 7,040,000,000/3,200,000 = $2200 (price of each ticket).

FIFA World Cup:

The same concept applies for the FIFA World Cup. By utilizing the rise/run method (subtract y from x in this scenario) we find M: the slope (in this scenario the price of each ticket).

Y = Money Made Billions

X = Total Attendance (in Millions)


Take Y5 and X5 = 3,450,000,000/2,300,000 = $1500 (price of each ticket).

Final Data:

The prices of both missions can be represented as equations (in both an equation of line, and an equation of a line in standard form). In the following model, C represents the total money earned (revenue), M is the price of tickets (in dollars), X shows the number of spectators (in millions), and B represents the cost (in trillions) to organize and set up.


Below are two linear charts and equation showing how much money (dollars) would be made by both events (separately).

Big image

For the Summer Olympics, the money earned in total (C) can be shown with the equation C = 2200x - 2,100,000,000. This equation is correct and fits perfectly because the amount of money (in dollars) earned from the people at the Games (2200x), and the organization amount (in dollars) shows (2,350,000,000). For example to calculate the amount of money in the 1996 Atlanta Summer Olympics, use the equation:

C = 2200x - 2,100,000,000

C = 2200(3,200,000) - 2,100,000,000

C = 7,040,000,000 - 2,100,000,000

C = 4,940,000,000

Therefore, the cost for the Summer Olympics of Atlanta in 1996 would be $4,940,000,000.


In standard form, this equation follows Ac + By + C = 0

this equation is C = 2200x - 2,100,000,000. and becomes 7,040,000,000x - 2,100,000,000y - 4,940,000,000 = 0

Big image

For the FIFA World Cups, the money earned in total (C) can be shown with the equation C = 1500x - 1,100,000,000. This equation is correct and fits perfectly because the amount of money (in dollars) earned from the people at the Games (1500x), and the organization amount (in dollars) shows (4,940,000,000). For example to calculate the amount of money in the 1998 France World Cup, use the equation:

C = 1500x - 1,100,000,000

C = 1500(2,300,000) - 1,100,000,000

C = 3,450,000,000 - 1,100,000,000

C = 2,350,000,000

*2,350,000,000 = 1500(2,300,000) - 1,100,000,000

Therefore, the cost for the World Cup of France in 1998 would be $2,350,000,000.


In standard form, this equation follows Ac + By + C = 0

this equation is C = 1500x - 1,100,000,000. and becomes 1500x - 1,100,000,000y - 2,350,000,000 = 0

Comparison: Point of Intersection (POI)

Before the point of intersection at (142857, 1328571429), the blue line (FIFA World Cup) has significantly less gain than the red line (Summer Olympics). This means that when when x < 1328571429, the red line’s money > blue line’s. During the point of intersection, the blue line is evidently at the same point before the as the red: both reach the amount (in dollars). They meet at (142857, 1328571429), blue line’s money = red line’s money. After the point of intersection, the blue line (FIFA World Cup) is further away from Earth than purple line (Summer Olympics), as the Olympics continue to earn more, mainly as a result of their grand resources and vast popularity over the FIFA World Cup.


Refer to the graph below for additional information.

Big image

Application

This application is significant to retain the popularity or perhaps correct minor blunders of both the Summer and Winter Olympics in real terms

Summary

At point (142857, 1328571429), both the red line (Summer Olympic Games) and blue line (FIFA World Cup) intersect, with the same total (revenue), and amount of spectators (in billions) , as blue had a latter start. The FIFA World Cup began at less, reached the same amount, and then continued to have a lesser revenue. When the most recent of both events are compared, the Summer Olympics have a higher revenue by $4,310,000,000 and 1,300,000 more spectators, than the FIFA World Cup.


Therefore, the Summer Olympic Games have a greater revenue than the FIFA World Cup. Through this, it can be inferred that this occurs because the Olympic Games have a larger capacity for more spectators, thus larger amount of tickets sold, overall increasing the revenue.