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3- A student association has hired a band and a caterer for a graduation party. The band will charge a fixed fee of $1.000 for
3- A student association has hired a band and a caterer for a graduation party. The band will charge a fixed fee of $1.000 for an evening of music, and the caterer will charge a fixed fee of $600 for the party setup and an additional $10 per person who attends. Snacks and soft drinks will be provided by the caterer for the duration of the party. Students attending the party will pay $20 each at the door. Requirements: a. Suppose 100 people attend the party. What is the total cost to the student association? What is the cost per attendee? "b. Suppose 500 people attend the party. What is the total cost to the student association and the cost per attendeeplan! c. How many students are needed to be on the breakeven point? d. How many students are needed to gain an operating profit of $10.000
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