The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry...

 

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The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives five free seats to each symposium. Nonmembers wishing to attend must pay $65 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event. Rental cost for the auditorium Registration processing Speaker costs $170 $8.50 per person 3@$800 $2,400 Continental breakfast $4.00 per person Lunch Parking $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Construct a model for the profit or loss based on the number of nonmember registrants that also accounts for the fact that, historically, 20% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center pays for parking only for those who attend. What is the profit (in dollars) if each corporate member registers their full allotment of tickets and 136 nonmembers register? $ (b) Use a two-way data table to show how profit changes as a function of number of registered nonmembers and the no-show percentage of nonmembers. Vary the number of nonmember registrants from 80 to 160 in increments of 5 and the percentage of nonmember no-shows from 10% to 30% in increments of 5%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 25%? to (c) Consider three scenarios. Base Case Worst Case Best Case % of Members Who Do Not Show 25.0% 40% 15% % of Nonmembers Who Do Not Show 10.0% 20% 5% Number of Nonmember Registrants 130 115 150 All other inputs are the same as in part (a). Use Scenario Manager to generate a summary report that gives the profit for each of these three scenarios. What is the highest profit (in dollars)? $ What is the lowest profit (in dollars)? $ The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives five free seats to each symposium. Nonmembers wishing to attend must pay $65 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event. Rental cost for the auditorium Registration processing Speaker costs $170 $8.50 per person 3@$800 $2,400 Continental breakfast $4.00 per person Lunch Parking $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Construct a model for the profit or loss based on the number of nonmember registrants that also accounts for the fact that, historically, 20% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center pays for parking only for those who attend. What is the profit (in dollars) if each corporate member registers their full allotment of tickets and 136 nonmembers register? $ (b) Use a two-way data table to show how profit changes as a function of number of registered nonmembers and the no-show percentage of nonmembers. Vary the number of nonmember registrants from 80 to 160 in increments of 5 and the percentage of nonmember no-shows from 10% to 30% in increments of 5%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 25%? to (c) Consider three scenarios. Base Case Worst Case Best Case % of Members Who Do Not Show 25.0% 40% 15% % of Nonmembers Who Do Not Show 10.0% 20% 5% Number of Nonmember Registrants 130 115 150 All other inputs are the same as in part (a). Use Scenario Manager to generate a summary report that gives the profit for each of these three scenarios. What is the highest profit (in dollars)? $ What is the lowest profit (in dollars)? $