CT SYMPHONY CASE EXHIBITS Table 1 CT Symphony Proposed Season Concert Type Average Ticket Price Number of Nights Tickets Sold Variable Cost/Night Beethoven & Brahms 535 30 30,000 25,000 Mozart 30 30 45,000 27,500 Contemporary Pop 20 30 66,000 30,000 Total 90 141,000 Total Fixed Costs $1.000.000 Table 2 CT Symphony-Range of Sales for Current Mix* Ticket Sales Probability of sales 100,000 15.00% 120,000 30.00% 140000 40.00% 160,000 15.00% 100.00% Table 3 CT Symphony-Alternate Proposal Concert Type Average Ticket Price Number of Nights Tickets Sold Variable Cost/Night Beethoven & Brahms $35 20 20.000 25,000 Mozart 30 30 45.000 27,500 Contemporary Pop 20 40 88.000 30,000 Total 90 153,000Table 4 CT Symphony Range of Sales for Alternate Proposal* Ticket Sales Probability of sales 130.000 10.00% 150.000 20.00% 170,000 35.00% 190,000 30.00% 210,000 5.00% "The probability distributions in Tables 2 and 4 represent a simplification. In a real situation, we would compute the probability distribution of sales for each ope of concert; the sum of the expected sales for each concert would be the expected total ticket sales.a} b} d) For the coming summer season, only use data in Table 1. Calculate the hreakeven point for ticket sales and the expected profit using average revenue per ticket and average cost per ticket. What is the safety margin? Do the analysis at the overall {total} ticket-levels Now consider the data in Table 2; compute the breakeven point for ticket sales and the expected prot using average revenue per ticket and average cost per ticket. What is the safety margin? [Hint Calculate \"Erpect'ed \" Total Tickets Sales. given tits probability distribution. More. data in Table} is at Total (Overall) ticket-tempts] Assume that the box ofce manager would like to change the mix of concerts and has supplied you with the information shown in Tables 3 and 4. The cost information remains unchanged. Compute the hreakeven point for ticket sales and expected prot using average revenue per ticket and average cost per ticket. What is the safety margin? Should the Orchestra adopt the alternate proposal? Explain your reasoning with facts and analysis. In your opinion, is the CT Symphony Orchestra pursuing the right strategy in terms of the location and mix of concerts? Explain your reasoning with reference to the key factors in the CT Symphony Orchestra's environment