Question
The medical school dean is retiring after serving the University for 20 years. To celebrate his legacy, the University Event Office is organizing a Gala
The medical school dean is retiring after serving the University for 20 years. To celebrate his legacy, the University Event Office is organizing a Gala in his name. The cost of the facility to host the gala will be $40,000, the staff cost is $35,000, and the food and drink cost per attendee will be $100. There will be different level of take away gift for attendees based on the seating purchased (Gold, Silver, Bronze). The table below shows the cost of the seating, the cost of gift to the attendee, as well as an estimated spread of the attendees at each level.
1 - Please find out how many attendees do we need to break-even
2- It is the intention of the school to raise $1,000,000 funds to establish a research endowment named after the Dean. If so, how many attendees do we need to achieve this goal?
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