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5. Examining the Concessions contract - see exhibit 3 where costs for concessions for all events in 2020 were reported along with the attendance at each of the events. a) Using regression estimate the cost equation for concessions for 2020. b) Compare the results of variable and fixed costs as indicated in your equation with the contract for concessions in Exhibit 2. c) Make a recommendation as to whether Coastal should handle concessions in house (results for 2020) or outsource to the provider in the contract shown in Exhibit 2. The Pavilion can accommodate 20,000 fans with 7,000 reserved seats directly in front of the stage (covered seating in sections I through 9 and VIP seating) and another 13,000 on the spacious lawn. It has 78 theater-style VIP boxes that can accommodate 4, 6, or 8 people. In addition to positioning for prime viewing, patrons in VIP hoxes also enjoy amenities such as wait staff service at their seats, personalized parking, and exclusive membership to the VIP Bar & Grill. Directly in front of sections 4, 5, 8, and is scating with an elevated floor that provides excellent views of the stage for patrons with disabilities and additional seating for the hearing or visually impaired Lawn Seating STAGE Reserved. Covered Seating + Exhibit 2 Flash Report for the KFBS Allstars Concert 7 07/31/22 Event Month Event Date Projected Sales A Seats B Seats C Seats D Seats Total Ticket Price A Seats B Seats C Seats D Seats 2,978 2,945 1,856 881 8,660 $ S $ $ 58.00 35.00 16.00 10.00 Projected Revenue Average Ticket Price $ 314,305.00 S 36.29 Guaranteed Talent Cost $ 260,635.00 10,825 Attendance (includes Comp) Other Ticket Revenue Per ticket facility charge Per ticket service charge $ $ 3.50 2.00 Projected Revenue from ticketing Per sold ticket $361,935.00 $ 41.79 Ancillary Revenues (per all attendees including comps) ates) 5. Examining the Concessions contract - see exhibit 3 where costs for concessions for all events in 2020 were reported along with the attendance at each of the events. a) Using regression estimate the cost equation for concessions for 2020. b) Compare the results of variable and fixed costs as indicated in your equation with the contract for concessions in Exhibit 2. c) Make a recommendation as to whether Coastal should handle concessions in house (results for 2020) or outsource to the provider in the contract shown in Exhibit 2. The Pavilion can accommodate 20,000 fans with 7,000 reserved seats directly in front of the stage (covered seating in sections I through 9 and VIP seating) and another 13,000 on the spacious lawn. It has 78 theater-style VIP boxes that can accommodate 4, 6, or 8 people. In addition to positioning for prime viewing, patrons in VIP hoxes also enjoy amenities such as wait staff service at their seats, personalized parking, and exclusive membership to the VIP Bar & Grill. Directly in front of sections 4, 5, 8, and is scating with an elevated floor that provides excellent views of the stage for patrons with disabilities and additional seating for the hearing or visually impaired Lawn Seating STAGE Reserved. Covered Seating + Exhibit 2 Flash Report for the KFBS Allstars Concert 7 07/31/22 Event Month Event Date Projected Sales A Seats B Seats C Seats D Seats Total Ticket Price A Seats B Seats C Seats D Seats 2,978 2,945 1,856 881 8,660 $ S $ $ 58.00 35.00 16.00 10.00 Projected Revenue Average Ticket Price $ 314,305.00 S 36.29 Guaranteed Talent Cost $ 260,635.00 10,825 Attendance (includes Comp) Other Ticket Revenue Per ticket facility charge Per ticket service charge $ $ 3.50 2.00 Projected Revenue from ticketing Per sold ticket $361,935.00 $ 41.79 Ancillary Revenues (per all attendees including comps) ates)