1. You have been commissioned to analyze the economic impact on the city of a major event. City officials want to know if it would be profitable to fund and bid for similar future events. Specifically, the committee wants to know the direct spending impact, the indirect spending impact, and total economic impact of the event. The following data was collected from the event: - Estimated attendance was 40000. - Spending by organizations from outside the city was approximately $1 million. - Spending by the city was approximately $2.5 million. - The city sales tax is 10%. - The spending multiplier for the city is equal to 1.6. - A survey of 660 attendees revealed that: - 380 were visitors and the remainder were residents, - Of the visitors, 50 were time switchers, and 25 were casual visitors, - On average, each visitor spends $220 per day on non-lodging and $45 on lodging per night, - Visitors spent on average 2.2 days and 1.3 nights in the city. - The level of spending and average length of stay the same for all types of visitors. a. How many visitors should be used in the calculation of the economic impact estimates? Your