Joel Goodson is a high-achieving high school student who lives with his wealthy parents in the North Shore (Chicago) area of Glencoe, Illinois. His father wants him to attend Princeton University, his ''alma mater'', so Joel participates in Future Enterprisers, an extracurricular activity in which students work in teams to create small businesses. When his parents go away on a trip, Joel's friend, Miles, convinces him to take advantage of his newfound freedom to have some fun. On the first night, he raids the liquor cabinet, plays the stereo loudly, and dances around the living room in his underwear and pink dress shirt to "Old Time Rock and Roll". The following day, Miles calls a Prostitution named Jackie on Joel's behalf. Jackie turns out to be a tall, masculine Transvestism. Joel pays Jackie to go away, but before she leaves, she gives Joel the number for Lana, another prostitute. That night, Joel is unable to sleep and hesitantly calls Lana. She turns out to be a gorgeous blonde and they have sex all night.