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, define and run some reasonable scenarios using the Scenario Manager to evaluate profitability for the following scenarios:

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Scenarios for Problem 31 Expected Crowd Concession Expenditure Fixed cost Likely 3000 $15 $10,000 Optimistic 4500 $20 Pessimistic 2500 $12.50 $12,500 s8,500