The organizers of the annual Osheaga Music Festival are seeking ways of increasing annual attendance at the
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Question:
One idea under consideration is to organize a 2-kilometer parade along Ste. Catherine Street on the day before the traditional opening day. The organizers believe that - with some additional monetary and expense coverage incentive - they can get many of the scheduled performing artists to come early and participate in the parade happening. The new investment required for this parade will be $1,750,000, but the prediction is that capacity will approach 60,000 daily if this parade is held.
Questions:
11.A) What is the ROMI for this potential event (i.e. the parade)? (8 points)
11.B) If the total fixed cost of the event amounts to $4,500,000, how many daily attendees (on average) would they need to host in order to achieve $25,000,000 in revenue?
Related Book For
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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