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

jcdenton08 · Apr 23, 2021

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 · Apr 23, 2021

I thought it was going to be 128 ÷3

Bry Nylon · Apr 23, 2021

jcdenton08 said:
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 · Apr 23, 2021

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 · Apr 23, 2021

£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 · Apr 23, 2021

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 · Apr 23, 2021

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

This is correct

nwgull · Apr 23, 2021

jcdenton08 said:
This is correct

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

Weststander · Apr 23, 2021

3.1428

Sid in the Sharknado · Apr 23, 2021

jcdenton08 said:
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 · Apr 23, 2021

Bry Nylon said:
Raise it with The Society of West End Musicals.

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

jackanada · Apr 23, 2021

jcdenton08 said:
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 · Apr 23, 2021

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

Is it PotG? · Apr 23, 2021

Shropshire Seagull said:
Ok next one, what is the square-root of minus nine?

Is it 7?

Harry Wilson's tackle · Apr 23, 2021

schmunk said:
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 · Apr 23, 2021

jcdenton08 said:
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 · Apr 23, 2021

Shropshire Seagull said:
Ok next one, what is the square-root of minus nine?

i3

GT49er · Apr 23, 2021

Weststander said:
3.1428

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

Wrong-Direction · Apr 23, 2021

Pie

Sent from my SM-A715F using Tapatalk

Triggaaar · Apr 23, 2021

jcdenton08 said:
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).

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

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