1.

A garage band wants to hold a concert. The expected crowd has a Normal distribution with the mean of 3000 and standard deviation of 200. The average expenditure on concessions is Uniformly distributed with a minimum of $10 and maximum of 25 dollars. Tickets sell for $10 each, and the band's profit is 80% of the gate (ticket sale) and con cession sales, minus a fixed cost of $12,000. Use the provided spreadsheet model and conduct a Monte Carlo simulation with

500 trials to analyze the band profit:

In your analysis,

a. find the minimum, maximum, average, and standard deviation for band profit

b. create the frequency distribution ( using FREQUENCY function ) and the histogram for band profit.

c. Find the probability that band profit will be greater than $62000.

show all of the work by using the appropriate function and formulas in Excel