1. The Centre is considering a refund policy for no-shows. No refund will be given for members who do not attend, but non-members who do not attend will be refunded 40% of the price. Extend the model you developed in part (a) for the Centre Seminar to account for the fact that, historically, 20% of members who registered do not show, and 15% of registered non-members do not attend. The Centre pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the Centre pays for parking only for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 15 non-members register? (refer to attached picture)

b. Assuming all other inputs are the same as in part c, show how profit changes as a function of number of registered non-members and the no-show percentage of non-members. Vary the number of non-member registrants from 100 to 260 in increments of 10 and the percentage of non-member no-shows from 10% to 50% in increments of 4%. (Hint: Use two-way table)

c. Taking the following scenarios (see table below) into consideration and assuming all other inputs are the same as in part (c). Generate a summary report that gives the profit for each of these three scenarios. Which scenario would you recommend to the Centre? Why?

	Scenario 1	Scenario 2	Scenario 3
% of Members Who Do Not Show	30%	60%	10%
% of Non-members Who Do Not Show	65%	25%	10%
Number of Non-member Registrants	160	200	200

Parameters Rental Cost for the seminar room Speaker costs 3 @ S1000 Costs of members ( 15 members recieves 5 seats) $200.000 $3,000.00 $11,250.00 Cost of Registration Breakfast Lunch Parking Total variable cost $20.00 per person $15.00 per person $20.00 per person $5.00 per person $60.00 per person Model $150.00 Revenue from non-members Number of non-member registrants per person 500 Total Fixed Cost Total Variable Cost Total Cost $14,450.00 $30,000.00 $44,450.00 Total Revenue Generated $75,000.00 Profit $30,550.00