A garage band wants to hold a concert. The expected crowd is 3,000. The average expenditure on
Question:
A garage band wants to hold a concert. The expected crowd is 3,000. The average expenditure on concessions is $ 15. Tickets sell for $ 10 each, and the band’s profit is 80% of the gate and concession sales, minus a fixed cost of $ 12,000. Develop a general mathematical model and implement it on a spreadsheet to find their expected profit., construct a tornado chart and explain the sensitivity of each of the model’s parameters on total profit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 52% (17 reviews)
Garage Band Expected Crowd 3000 people Average Concessions Expenditure 2500 per person Fix...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
Question Posted:
Students also viewed these Business Communication questions
-
Develop a Crystal Ball model for the garage band in Problem 11 in Chapter 9 with the following assumptions. The expected crowd is normally distributed with a mean of 3,000 and a standard deviation of...
-
For Alejandro, concert tickets and film tickets are perfect complements-he does not enjoy additional concerts when he has attended more concerts than films or additional films when he has attended...
-
Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater...
-
Claud Chapperon is a self-employed distributor of wholesale clothing who began trading on 1 July 2012. His summarised accounts for the year to 30 June 2020 are shown below. The figures in brackets...
-
Where are the photosynthetic pigments located in a phototrophic purple bacterium? A cyanobacterium? A green alga? Considering the function of chlorophyll pigments, why are they not located elsewhere...
-
Use the following information about a hypothetical government security dealer named M. P. Jorgan. Market yields are in parenthesis, and amounts are in millions. a. What is the repricing gap if the...
-
Table B. 24 contains data on median family home rental price and other data for 51 US cities. Fit a linear regression model using the median home rental price as the response variable and median...
-
The Easy Drive Car Rental Agency needs 500 new cars in its Nashville operation and 300 new cars in Jacksonville, and it currently has 400 new cars in both Atlanta and Birmingham. It costs $30 to move...
-
You are considering an investment that will pay $22845 in 14 years. If the interest rate is 10.99%, what is the most you should be willing to invest today?
-
Construct a bond graph or Niggli formula to determine if it is possible for all anions to be equivalent in a structure of tetrahedrally coordinated cations and stoichiometry of C 2 A 3 ? Which...
-
The Hyde Park Surgery Center specializes in high risk cardiovascular surgery. The center needs to forecast its profitability over the next 3 years to plan for capital growth projects. For the first...
-
For a new product, sales volume in the first year is estimated to be 80,000 units and is projected to grow at a rate of 4% per year. The selling price is $ 12 and will increase by $ 0.50 each year....
-
If there is a separate principle of precaution, do we need a principle of prevention?
-
Springsteen Ltd. is a new audit client for the 2023 financial year. Springsteens financial statements for the 2022 year, the last with the previous auditor, were prepared on the assumption of a going...
-
Barbara Bliss had the following recognized gains and losses during 2018: What are the net tax consequences of these gains and losses for Barbara? Barbara's adjusted gross income is \(\$ 30,000\)...
-
If the continuously compounded interest rate is a constant \(r\), what is the instantaneous forward interest rate (see Formula 4.5)?
-
Stenton Toys Ltd. is a toy retailer with stores in each of the Canadian provinces. Stenton has a head office and a central warehouse in Mississauga, Ontario. All inventory purchases are made...
-
Francine, a CPA, is planning the audit of Richmond Contractors, a construction company that reports under ASPE. Francine notes the following with respect to Richmond: Richmond records revenue using...
-
Sketch the conic sections whose polar coordinate equations are given. Give polar coordinates for the vertices and, in the case of ellipses, for the centers as well. r 6 1 - 2 cos 0
-
An Atomic Energy Commission nuclear facility was established in Hanford, Washington, in 1943. Over the years, a significant amount of strontium 90 and cesium 137 leaked into the Columbia River. In a...
-
A quality characteristic has a design specification (in cm.) of 0.200 0.020. If the actual process value of the quality characteristic exceeds the target by 0.020 on either side, the product will...
-
The service center for a brokerage company provides three functions to callers: account status, order confirmations, and stock quotes. The reliability was measured for each of these services over one...
-
Two cooling fans are installed in some laptop computers. Suppose the reliability of each cooling fan is 0.99. What percent improvement in reliability does adding the second fan provide? A B
-
What motivates you to succeed in your work or personal endeavors?Can you provide an example from your past experiences where you successfully turned a setback into a motivation to achieve a goal?
-
What are some key traits and qualities that define an effective leader in today's complex and dynamic business environment?
-
How has digital marketing transformed the healthcare industry? What are the key strategies for successful healthcare marketing in 2023? How can healthcare providers ensure compliance with healthcare...
Study smarter with the SolutionInn App