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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.

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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 concession 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, find the minimum, maximum, average, and standard deviation for band profit 1 create the frequency distribution (using FREQUENCY function) and the histogram for band profit - Find the probability that the band profit will be greater than $62000.W N E Garage Band MEAN S.D. CROWD SIZE Min Max Average Concessions Expenditure LD 60 Fixed Cost 12000 10 Ticket Price 10 per person 11 12 13 REVENUE FROM TICKETS =B11*B4 14 CONCESSION SALES -B7*B4 15 16 PROFIT PERCENTAGE 0.8 17 BAND PROFIT =B16*(B13+B14)-B9 18 19 20 21

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