A garage band wants to hold a concert. The expected crowd is 3,000. The average expenditure on
Question:
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., construct a tornado chart and explain the sensitivity of each of the model’s parameters on total profit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (21 reviews)
Garage Band Expected Crowd 3000 people Average Concessions Expenditure 2500 per person Fix...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business Communication questions
-
Develop a Crystal Ball model for the garage band in Problem 11 in Chapter 9 with the following assumptions. The expected crowd is normally distributed with a mean of 3,000 and a standard deviation of...
-
For Alejandro, concert tickets and film tickets are perfect complements-he does not enjoy additional concerts when he has attended more concerts than films or additional films when he has attended...
-
Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater...
-
Claud Chapperon is a self-employed distributor of wholesale clothing who began trading on 1 July 2012. His summarised accounts for the year to 30 June 2020 are shown below. The figures in brackets...
-
Where are the photosynthetic pigments located in a phototrophic purple bacterium? A cyanobacterium? A green alga? Considering the function of chlorophyll pigments, why are they not located elsewhere...
-
There are three exercises in Project 3: Project 3.1 Balance Sheet & Income Statement Part I, Project 3.2 Balance Sheet & Income Statement Part II, and Project 3.3. Balance Sheet & Income Statement...
-
In each of the following independent situations, determine the taxpayers filing status and the number of dependents the taxpayer is allowed to claim. a. Frank is single and supports his 17- year-old...
-
The most recent monthly income statement for Kennaman Stores is given below: Kennaman is considering closing Store I. If Store I is closed, one-fourth of its traceable fixed expenses would continue...
-
What is not a feature of the Universal Journal in SAP S/4 HANA?
-
Consider an individual whose preferences are defined over bundles of non-negative amounts of each of two commodities. Suppose that this individual's preferences can be represented by a utility...
-
The Hyde Park Surgery Center specializes in high risk cardiovascular surgery. The center needs to forecast its profitability over the next 3 years to plan for capital growth projects. For the first...
-
For a new product, sales volume in the first year is estimated to be 80,000 units and is projected to grow at a rate of 4% per year. The selling price is $ 12 and will increase by $ 0.50 each year....
-
On January 1, 2012, Uncle Company purchased 80 percent of Nephew Company's capital stock for $500,000 in cash and other assets. Nephew had a book value of $600,000 and the 20 percent non-controlling...
-
1. The KYM company wants to invest $ 523,000 pesos in the bank that guarantees a simple interest rate of 3.32% quarterly. If the company is considering the 8-month investment. What amount will you...
-
3. (5 points) The uncertainty principle limits our ability to determine simultaneously the position and momentum of a particle. (a) Why were classical physicists unaware of the limitations that this...
-
CASE STUDY Patient Name Valarie Ramirez Attending Paul F. Buckwalter, MD PATIENT INFORMATION DOB 08/04/1986 Allergies MAN 00-AA-006 Penicillin Other Information Past HX: AB x1 Valarie Ramirez arrives...
-
Petesy Corporation is preparing its Master Budget for 2019. Budget information is as follows: SalesProduction CostOperating Expenses 20191 st Quarter P280,000P192,000P64,000 2 nd Quarter 320,000...
-
A steady flow of 20 m3/s of moist air at TDB = 35iC, TWB = 25iC, 100 kPa (state 1) is dehumidified by first cooling it and condensing out moisture (state 2), then reheating it to 20iC and 50% R.H....
-
What is a possible endogeneity problem in the Fama and French asset pricing tests of the three-factor model? How can we reduce this problem in asset pricing tests?
-
A copper rod of length L =18.0 in is to be twisted by torques T (see figure) until the angle of rotation between the ends of the rod is 3.08. (a) If the allowable shear strain in the copper is 0.0006...
-
Indicate whether each of the following is either an inflow or an outflow of cash, and indicate if the item should be classified as operating, investing, or financing. a. Receipt of cash from...
-
A quality characteristic has a design specification (in cm.) of 0.200 0.020. If the actual process value of the quality characteristic exceeds the target by 0.020 on either side, the product will...
-
The service center for a brokerage company provides three functions to callers: account status, order confirmations, and stock quotes. The reliability was measured for each of these services over one...
-
Two cooling fans are installed in some laptop computers. Suppose the reliability of each cooling fan is 0.99. What percent improvement in reliability does adding the second fan provide? A B
-
Industry Current Year Minus 1 Current Year Minus 2 Company: Air Products and Chemicals, Inc. (APD) Stock Price: 306.72 USD Shares Outstanding: 220.89 M Financial Ratios Most Current Year Current...
-
Assume the market portfolio of common stocks earned 14.1 percent in one year while U.S. Treasury bills earned 4.4 percent and inflation averaged 4.6 percent. What was the market risk premium?
-
A bank quotes you an interest rate of 9 . 5 % per annum with quarterly compounding. What is the equivalent rate with continuous compounding?
Study smarter with the SolutionInn App