A garage band wants to hold a concert. The expected crowd is 3,000. The average expenditure on
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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.
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Garage Band Expected Crowd 3000 people Average Concessions Expenditure 2500 per person Fix...View the full answer
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Related Book For
Business Analytics Methods Models and Decisions
ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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