Question 2 The manager of a tourist attraction is considering whether to open on 1 January, a day when the attraction has, in previous years, been closed. The attraction has a daily capacity of 1000 visitors. If the attraction opens for business on that day, it will incur additional specific fixed costs of N$30 000. The contribution from the sale of tickets would be N$25 per visitor. The number of visitors is uncertain, but based on past experience it is expected to be as follows: Number of visitors 800 900 1000 Probability 50% 30% 20% It is expected that visitors would also purchase souvenirs and refreshments. The contribution which would be made from these sales has been estimated as follows: N$8 per visitor N$10 per visitor N$12 per visitor Probability 35% 40% 25% Required: a) Determine whether it is worthwhile opening the tourist attraction on 1 January. Use expected value as the basis of your analysis b) Prepare a table to show the profit or loss for each of the possible outcomes