Analysis $2$ Extensions to Break Even Model

OK$,$ now we are going to extend this model a bit. Make sure your base model file is saved. Then do a Save As$...$ and create a copy of your file, naming it BreakEven$-$ExtendedModel$-.$xlsx$.$ Close the BaseModel and open the ExtendedModel. Change the name of the first sheet to Model$2$ and you can delete the other sheets.

$2$a $$ Demand, venue capacity and additional costs$)$ We are going to extend the model by taking into account, demand, the venue capacity and the dependence of ticket sales on these inputs.

We are now interpreting demand for tickets as an exogenous variable and it is NOT necessarily equal to the number of tickets sold. It$$s the underlying demand for tickets. In fact, you should change the base input label that was called $$Expected Ticket Sales$$ and now call it $$Expected Demand$.$

Recall from the original problem description that the venue has a capacity of $2500.$ The fire marshal will not compromise. The absolute maximum number of tickets that you can sell is $2500.$ If demand is greater than $2500,$ you simply can$$t sell extra tickets and you have to tell those fans you are sorry. At least you$$ll have a full house.

In addition, you$$ve been told by local officials that you must hire security personnel and the number of security staff depends on the number of tickets you sell. Here$$s a little lookup table $($hint$)$ showing the number of security staff needed for various ticket sales levels. Each security staff costs $$200$ for the evening.

So$,$ if ticket ses are greater than or equal to $0$ and less than $1000,$ we need $15$ security staff. If ticket sales are greater than or equal to $1000$ and less than $1500,$ we need $17$ security staff, and so on$.$ How to calculate expected profit