Thanks$$Scenario Analysis for Profitability of a Symposium. Consider again the scenario described in Problem $6.$LO $2,$ LO $3,$ LO $6,$ LO $7$

a$.$

The Center for Business Analytics is considering a refund policy for no$-$shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded $50\%$ of the price. Extend the model you developed in Problem $4$ for the Business Intelligence Symposium to account for the fact that, historically, $25\%$ of members who registered do not show and $10\%$ of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants $($not the number of attendees$).$ However, the center pays for parking only for those who attend. What is the profit if each corporate member registers their full allotment of tickets and $127$ nonmembers register?

b$.$

Use a two$-$way data table to show how profit changes as a function of number of registered nonmembers and the no$-$show percentage of nonmembers. Vary the number of nonmember registrants from $80$ to $160$ in increments of $5$ and the percentage of nonmember no$-$shows from $10\%$ to $30\%$ in increments of $2\%.$

c$.$

Consider three scenarios:

Base Case

Worst Case

Best Case

$\%$ of Members Who Do Not Show

$25\mathrm{.}0\%$

$50\%$

$15\%$

$\%$ of Nonmembers Who Do Not Show

$10\mathrm{.}0\%$

$30\%$

$5\%$

Number of Nonmember Registrants

$130$

$100$

$150$

All other inputs are the same as in part $($a$).$ Use Scenario Manager to generate a summary report that gives the profit for each of these three scenarios. What is the highest profit? What is the lowest profit?