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 real-world use of analytics. Each corporate member of the center (there are currently 10) receives six free seats to each symposium. Nonmembers wishing to attend must pay $75 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: Speaker Costs: Continental Breakfast: Lunch: Parking: $150 $8.50 per person 3@$800 = $2,400 $4.00 per person $7.00 per person $5.00 per person (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. Build a spreadsheet model that calculates a profit or loss based on the number of nonmember registrants. 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 only pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 127 nonmembers register? If required, round your answers to two decimal places. (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 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%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 22%? Breakeven appears in the interval of to registered nonmembers. (c) Consider three scenarios: Best Case % of Members Who Do Not Show % of Nonmembers Who Do Not Show Number of Nonmember Registrants Base Case Worst Case 25% 50% 10% 30% 130 105 12% 4% 165 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? If required, round your answers to two decimal places. For subtractive or negative numbers use a minus sign. The highest profit is $ The lowest profit is $ PROBLEM #2 Your numbers in this problem may be different, but here is a model for you to follow There are 10 Corporate members. Each corporate member gets 9 FREE seats (No registration fee). There are 127 registrations from non-members who pay registration fee of $75 each. Registration Processing cost applies to ALL registrants (non-members as well as those from corporate members). 25% of those who registered from Corporate members do not show up. 10% of registered nonmembers do not attend. These absences matter in the case of Parking cost only, not for catering cost. Revenue comes from Registration fee. Calculate Registration fee collected. Have a line for each Cost item. Calculate Total Cost, taking into account all relevant information, not just what I stated above. Create the two-way Data Table. Find the Breakeven Interval. Generate the scenarios and answer the questions 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 real-world use of analytics. Each corporate member of the center (there are currently 10) receives six free seats to each symposium. Nonmembers wishing to attend must pay $75 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: Speaker Costs: Continental Breakfast: Lunch: Parking: $150 $8.50 per person 3@$800 = $2,400 $4.00 per person $7.00 per person $5.00 per person (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. Build a spreadsheet model that calculates a profit or loss based on the number of nonmember registrants. 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 only pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 127 nonmembers register? If required, round your answers to two decimal places. (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 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%. In which interval of nonmember registrants does breakeven occur if the percentage of nonmember no-shows is 22%? Breakeven appears in the interval of to registered nonmembers. (c) Consider three scenarios: Best Case % of Members Who Do Not Show % of Nonmembers Who Do Not Show Number of Nonmember Registrants Base Case Worst Case 25% 50% 10% 30% 130 105 12% 4% 165 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? If required, round your answers to two decimal places. For subtractive or negative numbers use a minus sign. The highest profit is $ The lowest profit is $ PROBLEM #2 Your numbers in this problem may be different, but here is a model for you to follow There are 10 Corporate members. Each corporate member gets 9 FREE seats (No registration fee). There are 127 registrations from non-members who pay registration fee of $75 each. Registration Processing cost applies to ALL registrants (non-members as well as those from corporate members). 25% of those who registered from Corporate members do not show up. 10% of registered nonmembers do not attend. These absences matter in the case of Parking cost only, not for catering cost. Revenue comes from Registration fee. Calculate Registration fee collected. Have a line for each Cost item. Calculate Total Cost, taking into account all relevant information, not just what I stated above. Create the two-way Data Table. Find the Breakeven Interval. Generate the scenarios and answer the questions