Model Inputs Product Type Programs Food Cost of Goods Sold (COGS) 40% 60% Commission 20% 10% Fixed Costs $5,000 $10,000 Employees (% of Expected Profit) 0.05% 0.20% Merchandise 70% 5% $20,000 0.03% # of events in the sample Input Analysis 100 Statistic Average Standard Deviation Salary (per employee) $50 Sales Forecast Attendance Programs Food $14,965.76 $72,471.76 $154,242.26 $3,994.23 $42,687.13 $66,229.45 18000 $90,000 $180,000 Merchandise $393,360.47 $227,919.37 $486,000 Arena Fee $100,000 Sales Product Type Cost of Goods Sold (COGS) Gross Profit Event Profitability Analysis Gross Profit Programs Food Merchandise Product Type Operating Expenses Programs Food Merchandise Salary Expenses Commissions Fixed Costs Total Operating Expenses Profit before Arena Fee Number of Employees Sales Product Type Gross Profit Total Operating Expenses Profit before Arena Fee Arena Fee Net Profit Profit Summary Total Question 1: Which product generates the largest gross profit? Question 2: Which product will require the fewest employees? Question 3: Would the event be profitable with a 150,000 arena fee if 15000 people were in attendance? Arena Fee What-if Analysis $15,000 Attendance Forecast $18,000 $21,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 You are the owner of a small business that manages the program, food, and merchandise sales at the Excel Center, where the local professional basketball team plays. In addition to basketball games, the Excel Center hosts dozens of event a year. Your company handles all sales made inside the arena. There are three major products that you sell: programs, food, and merchandise. You have decided to build a spreadsheet model to help you analyze and project the profitability of future events. The 'Event Profit' worksheet contains this model. You have randomly selected sales and attendance data from a number of past events to help build your model. This data can be found on the on the 'Past Events' worksheet. You will complete statistics on this model to obtain appropriate values for the inputs for the model. Complete the tasks to finish the model. Whenever possible, reference cells rather than 'hard-coding' values in the cells of your spreadsheet.