Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1, What is the ticket price per person to balance the initial budget using Goal Seek? 2. For the one-variable data table, how many attendees
1, What is the ticket price per person to balance the initial budget using Goal Seek?
2. For the one-variable data table, how many attendees creates the largest deficit?
3. For the one-variable data table, what is the largest deficit?
4. For the one-variable data table, how many attendees creates a break-even point?
5. For the two-variable data table, what ticket prices do not produce a break-even point?
6. For the two-variable data table, list the combinations of ticket prices and attendees that start generating profit.
Valentine's Day Ball One-Variable Data Table: Attendees 2 # Attend Revenue Balance 200 23,500.00$37,505.00-11,210.00 220 $ 25,000.00 38,163.50-10,089.00 240 26,500.00$ 38,822.00 -8,968.00 260 $ 28,000.00 39,480.50$7,847.00 280 S 29,500.00 40,139.00 -6,726 300 31,000.00$ 40,797.50$5,605.00 320 32,500.00$ 41,456.00$4,484.00 340 $ 34,000.00 42,114.503,363.00 360 $ 35,500.0042,773.00 2,242.00 380 37,000.0043,43150$ 1,121.00 400 $ 38,500.00 44,090.00 420 40,000.0044,748.50$ 1,121.00 440 41,500.0045,407.00$ 2,242.00 460 $ 43,000.00 46,065.503,363.00 480 $ 44,500.00 $ 46,724.00 4,484.00 50046,000.00$47,382.50$ 5,605.00 Input Section 4 No. of Attendees 5 %Attendees Using Valet 6 Cost per Chair Setup 7 Valet Parking per Car 8 Caterer's Meal Cost per Person 9 Ticket Price per Person 2.00 19.95 20.95 88.98 12 Maximum Attendees 13 Maximum Parking Stalls 14 Minimum Ticket Price 15 Maximum Ticket Price 16 240 50.00 5100.00 18 Student Club Contributions 19 Ticket Revenue 8,500 35,590 20 Total Income 44,090 Two-Variable Data Table: Attendees and Price Per Ticket # Attend 50.00 60.00 70.00 80.00 90.00 100.00 200 (19,005.00(17,005.00) $ 15,005.00(13,005.00) (11,005.00) (9,005.00) 220 (18,663.50(16,463.50) (14,263.50(12,063.50) (9,863.50) 7,663.50) 240 (18,322.00) $ (15,922.00)S (13,522.00)$ (11,122.00)(8,722.00) $ (6,322.00) 260 (17,980.50(15,380.50) S 12,780.50(10,180.50) 7,580.50) 5 (4,980.50) 280 (17,639.00(14,839.00) (12,039.00) (9,239.00) (6,439.00) (3,639.00) 300 (17,297.50(14,297.50) 11,297.50 (8,297.50) 5,297.50)5 2,297.50) 320 (16,956.00(13,756.00) $ (10,556.007,356.00) 4,156.00) (956.00) 340 (16,614.50(13,214.50)$ (9,814.50)(6,414.50) 3,014.50) $ 385.50 360 (16,273.00(12,673.00)(9,073.00)(5,473.00) $ (1,873.00) (1,727.00) 380 (15,931.50(12,131.50)(8,331.50(4,531.50) 731.50)5 (3,068.50) 400 (15,590.00(11,590.00) 7,590.00)(3,590.00) 410.00 4,410.00 20 (15,248.50) $ (11,048.50)$(6,848.50) (2,648.50) 1,551.50$ 5,751.50 440 (14,907.00(10,507.00) (6,107.00) (1,707.00) 2,693.007,093.00 460 (14,565.50 (9,965.50)5,365.50)(765.50)3,834.508,434.50 480 (14,224.00(9,424.00)$ (4,624.00) $ 176.00 4,976.009,776.00 500 (13,882.50 (8,882.50) (3,882.50)1,117.50$ 6,117.50 $11,117.50 23 Advertising 3,345 24 Ballroom Rental 25 Chairs/Table Setup 800 3,990 4,575 3,000 26 Valet Parking 27 Decorations 28 DJ Cost 29 Cleanup Costs 30 Meal Cost 8,380 5,000 31 Contingency 32 Total Expenses 44,090 34 35 36 37 38 Balance Valentine's Day Ball One-Variable Data Table: Attendees 2 # Attend Revenue Balance 200 23,500.00$37,505.00-11,210.00 220 $ 25,000.00 38,163.50-10,089.00 240 26,500.00$ 38,822.00 -8,968.00 260 $ 28,000.00 39,480.50$7,847.00 280 S 29,500.00 40,139.00 -6,726 300 31,000.00$ 40,797.50$5,605.00 320 32,500.00$ 41,456.00$4,484.00 340 $ 34,000.00 42,114.503,363.00 360 $ 35,500.0042,773.00 2,242.00 380 37,000.0043,43150$ 1,121.00 400 $ 38,500.00 44,090.00 420 40,000.0044,748.50$ 1,121.00 440 41,500.0045,407.00$ 2,242.00 460 $ 43,000.00 46,065.503,363.00 480 $ 44,500.00 $ 46,724.00 4,484.00 50046,000.00$47,382.50$ 5,605.00 Input Section 4 No. of Attendees 5 %Attendees Using Valet 6 Cost per Chair Setup 7 Valet Parking per Car 8 Caterer's Meal Cost per Person 9 Ticket Price per Person 2.00 19.95 20.95 88.98 12 Maximum Attendees 13 Maximum Parking Stalls 14 Minimum Ticket Price 15 Maximum Ticket Price 16 240 50.00 5100.00 18 Student Club Contributions 19 Ticket Revenue 8,500 35,590 20 Total Income 44,090 Two-Variable Data Table: Attendees and Price Per Ticket # Attend 50.00 60.00 70.00 80.00 90.00 100.00 200 (19,005.00(17,005.00) $ 15,005.00(13,005.00) (11,005.00) (9,005.00) 220 (18,663.50(16,463.50) (14,263.50(12,063.50) (9,863.50) 7,663.50) 240 (18,322.00) $ (15,922.00)S (13,522.00)$ (11,122.00)(8,722.00) $ (6,322.00) 260 (17,980.50(15,380.50) S 12,780.50(10,180.50) 7,580.50) 5 (4,980.50) 280 (17,639.00(14,839.00) (12,039.00) (9,239.00) (6,439.00) (3,639.00) 300 (17,297.50(14,297.50) 11,297.50 (8,297.50) 5,297.50)5 2,297.50) 320 (16,956.00(13,756.00) $ (10,556.007,356.00) 4,156.00) (956.00) 340 (16,614.50(13,214.50)$ (9,814.50)(6,414.50) 3,014.50) $ 385.50 360 (16,273.00(12,673.00)(9,073.00)(5,473.00) $ (1,873.00) (1,727.00) 380 (15,931.50(12,131.50)(8,331.50(4,531.50) 731.50)5 (3,068.50) 400 (15,590.00(11,590.00) 7,590.00)(3,590.00) 410.00 4,410.00 20 (15,248.50) $ (11,048.50)$(6,848.50) (2,648.50) 1,551.50$ 5,751.50 440 (14,907.00(10,507.00) (6,107.00) (1,707.00) 2,693.007,093.00 460 (14,565.50 (9,965.50)5,365.50)(765.50)3,834.508,434.50 480 (14,224.00(9,424.00)$ (4,624.00) $ 176.00 4,976.009,776.00 500 (13,882.50 (8,882.50) (3,882.50)1,117.50$ 6,117.50 $11,117.50 23 Advertising 3,345 24 Ballroom Rental 25 Chairs/Table Setup 800 3,990 4,575 3,000 26 Valet Parking 27 Decorations 28 DJ Cost 29 Cleanup Costs 30 Meal Cost 8,380 5,000 31 Contingency 32 Total Expenses 44,090 34 35 36 37 38 BalanceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started