1. The Blue Yonder Airline flight from Seattle to New York has a capacity of 325 people. The airline sold 420 tickets for the flight at a price of $300 per ticket. Tickets are nonrefundable. The variable and unit cost of flying a passenger (mostly food costs and fuel costs) is $30 per passenger. If more than 325 people show up for the flight, the flight is overbooked, and Blue Yonder must pay overbooking compensation of $350 per person to each overbooked passenger. Develop a worksheet that computes Blue Yonders profit based on the number of customers who show up for the flight.
2. You are bidding on a construction project. The low bid gets the project. You estimate the project cost at $20,000. Four companies are bidding against you. It costs $500 to prepare the bid. Write a formula that (given the bids of your four competitors and your bid) computes your profit (or loss if you lose the bid).
3. We are bidding on a valuable painting. The high bid gets the painting. We estimate the paintings value at $15,000. Four companies are bidding against us. It costs $500 to prepare the bid. Write a formula that (given the bids of our four competitors and our bid) determines whether we get the painting.

#1 Blue Yonder Airlines

tickets sold

Capacity

Number showing up (you can choose this number)

unit cost

overbook fee (IF Statement showing if overbooked how much does the airline pay for each individual passenger)

ticket price (enter ticket price)

ticket revenue (number of tickets sold * ticket price)

variable cost (show smallest number between those showing up or capacity using MIN function)*unit cost

overbook cost (IF Satement showing total overbook cost if airlines are over capacity or not)

profit (revenue-overbook-variable cost)

#2 Bidding on Construction

project cost

my bid

comp1 bid

comp 2 bid

comp 3 bid

comp 4 bid

bid cost

win bid (IF statement) - use MIN function for comparison of competitors bids against your bid (should state words if you won or lost)

profit (IF statement) - if you win what is the profit vs if you lose what is the profit including the bid cost)

#3 Bidding on Painting

value

my bid

comp 1 bid

comp 2 bid

comp 3 bid

comp 4 bid

Bid cost (IF Statement) use MAX function for comparison of competitors bids against your bid including the bid cost do I win? (IF Statement) show if you win or lose