The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives five free seats to each symposium. Nonmembers wishing to attend must pay $65 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event. Rental cost for the auditorium Registration processing Speaker costs $170 $8.50 per person 3@$800 $2,400 Continental breakfast $4.00 per person Lunch Parking $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Construct a model for the profit or loss based on the number of nonmember registrants that also accounts for the fact that, historically, 20% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center pays for parking only for those who attend. What is the profit (in dollars) if each corporate member registers their full allotment of tickets and 136 nonmembers register? $ (b) Use a two-way data table to show how profit changes as a function of number of registered nonmembers and the no-show percentage of nonmembers. Vary the number of nonmember registrants from 80 to 160 in increments of 5 and the percentage of nonmember no-shows from 10% to 30% in increments of 5%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 25%? to (c) Consider three scenarios. Base Case Worst Case Best Case % of Members Who Do Not Show 25.0% 40% 15% % of Nonmembers Who Do Not Show 10.0% 20% 5% Number of Nonmember Registrants 130 115 150 All other inputs are the same as in part (a). Use Scenario Manager to generate a summary report that gives the profit for each of these three scenarios. What is the highest profit (in dollars)? $ What is the lowest profit (in dollars)? $ The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives five free seats to each symposium. Nonmembers wishing to attend must pay $65 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event. Rental cost for the auditorium Registration processing Speaker costs $170 $8.50 per person 3@$800 $2,400 Continental breakfast $4.00 per person Lunch Parking $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Construct a model for the profit or loss based on the number of nonmember registrants that also accounts for the fact that, historically, 20% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center pays for parking only for those who attend. What is the profit (in dollars) if each corporate member registers their full allotment of tickets and 136 nonmembers register? $ (b) Use a two-way data table to show how profit changes as a function of number of registered nonmembers and the no-show percentage of nonmembers. Vary the number of nonmember registrants from 80 to 160 in increments of 5 and the percentage of nonmember no-shows from 10% to 30% in increments of 5%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 25%? to (c) Consider three scenarios. Base Case Worst Case Best Case % of Members Who Do Not Show 25.0% 40% 15% % of Nonmembers Who Do Not Show 10.0% 20% 5% Number of Nonmember Registrants 130 115 150 All other inputs are the same as in part (a). Use Scenario Manager to generate a summary report that gives the profit for each of these three scenarios. What is the highest profit (in dollars)? $ What is the lowest profit (in dollars)? $
Expert Answer:
Answer rating: 100% (QA)
I see that the image contains a business scenario regarding the University of Cincinnati Center for Business Analytics hosting a symposium along with details about the costs and considerations for a r... View the full answer
Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
Posted Date:
Students also viewed these finance questions
-
Aryan company's budgeted operating for 2021 are as follows Sales 22000 UNTTS Sales price per unit$20 Variable Manufacturing capacity 30,000 Manufacturing cost per unit$5.20 Selling cost$1.50 Fixed...
-
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of...
-
1. What are the advantages to Southwest of its proactive approach to passenger problems? n n 2. How might Fred Taylor use the four-part plan suggested in this chapter to compose his apology letters...
-
Using (2), show that for every x , e-x = 1/ex ex > 0 ex as x and ex 0 as x - This implies that the exponential function maps onto +.
-
What do you think should be done to make trial judges more accountable when they fail to adequately ensure that the rights of the accused are safeguarded? Should the public have a say in the...
-
On January 1, 2020, Landry Inc. issued a three-year, \(\$ 5,000\), zero-interest-bearing note to Dillon LLP, and received \(\$ 4,198\). The implied interest rate is \(6 \%\) on this note transaction....
-
Wenner Furnace Corp. purchased machinery for $279,000 on May 1, 2012. It is estimated that it will have a useful life of 10 years, salvage value of $15,000, production of 240,000 units, and working...
-
please help. Read each of the independent situations and answer the questions as follows. Your answer must be brief. a) TQM Company owns buildings that are worth substantially more than they...
-
Use the Financial Statements for Moon Walk Inc. to complete the following questions. Moon Walk Inc. Comparative Statement of Income for the 12 months ending December 31, 2024 Account 2024 2023 2022...
-
Please complete the charts. :39 | / Required information [T he following information applies to the questions displayed below] The following data is provided for Garcon Company and Pepper Company for...
-
Writing about Starbuck's Key product lines and competition for the business report. Help me articulate this information below!! Thank you :) Products and Services Starbucks sells all types of coffee...
-
On 1 August 2008 BUDGET CAR HIRE sold one of their vehicles for R159 600 cash. The vehicle was originally purchased for R228 000 on 1 May 2007. On 1 September 2008 a new vehicle was purchased on...
-
This involves the ability to address and analyze phenomena for its global interconnectedness. To recognize how ideas, events, and actions in one location have consequences elsewhere for humans and/or...
-
Put the following parts of a bad news letter in the correct order, as it would appear if written out. * 8 points 1st 2nd 3rd 4th 5th 6th 7th 8th Thank you for your order. We appreciate your interest...
-
Reju Ltd produces and sells bottles of non-alcoholic wine. Price and cost data are as follows: Sales price per bottle Variable costs per bottle: Direct material Direct labour Overhead Selling costs...
-
On Jan. 1, 20x1, Neighborhood Co. acquired P1,000,000, 12% bonds for P1,049,737. The principal is due on Dec. 31, 20x3 but interest is due annually every Dec. 31. The effective interest rate is 10%....
-
-x/2 x/4 If A = -x/2 and A-1 =6 then x equals
-
Go to the Internet and listen to the 1976 country-western song by Johnny Cash, "One Piece at a Time." What is the moral of this song?
-
Fraud Bingo Be a Sleuth: Use your answer to "catch" one of the first and most famous fraudsters: A T Ohio Congressman who has 2002 act named after him that responded to Enron crisis CED in big fraud...
-
1.3 Eurocurrencies and Eurocurrency Markets. What are the major eurocurrencies? What is meant by a Eurocurrency market?
Study smarter with the SolutionInn App