Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium, Each symposium features three speakers on the realworld use of analytics. Each corporate member of the center there are currently receives five free seats to each symposium. Nonmembers wishing to attend must pay $ per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event:
Rental cost for the auditorium: $
Registration Processing: $ per person
Speaker Costs:
Continental Breakfast:
@$$
Lunch:
$ per person
Parking:
$ per person
$ per person
a The Center for Business Analytics is considering a refund policy for noshows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded of the price. Build a spreadsheet model that calculates a profit or loss based on the number of nonmember registrants. Account for the fact that, historically, of members who registered do not show and 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 only pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and nonmembers register? If required, round your answers to two decimal places.
b Use a twoway data table to show how profit changes as function of number of registered nonmembers and the noshow percentage of nonmers number of nonmember registrants from to in increments of and the percentage of nonmember noshows from to in increments of In which interval of nonmember registrants does breakeven occur if the percentage of nonmember noshows is
Breakeven appears in the interval of to registered nonmembers.
c Consider three scenarios:
tableBase Case,Worst Case,Best Case of Members Who Do Not Show,
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started