7. A garage band wants to hold a concert. The expected crowd is 4,000. 80% of the crowd is expected to spend on average $15 at the concession stands. Tickets sell for $20 each, and the bands profit is 70% 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.

Additional Guidelines: Create your model so the expected profit automatically updates when input information changes. Clearly separate input information from intermediate calculations and final outputs.

8- For the garage-band model in Problem 7, create a two-way table for expected profit ranging expected crowd from 2,000 to 5,000 in steps of 300, and average expenditure from $10 to $30 in steps of one.