The York University Lions hockey team has made the Canadian Intercollegiate Sports (CIS) Championships. The stadiums management team wants to determine how many tickets to pre sell for this match. Each seat sold in advance is discounted and nets a profit of $15. By polling fans, the team has estimated that upwards of 3,000 fans are interested in buying the discounted ticket. Alternatively, they can wait until the day of the match and see how many fans show up. Seats sold on game day are not discounted and net a profit of $35. Demand on game day is uncertain and the arena only has a capacity for 2,500 fans. Based on historical data, management believes that four game-day demand scenarios are likely to occur. Their probabilities and respective demands are as follow

In Excel, write and solve a two-stage stochastic optimization model to determine how many seats to sell in advance so that the total expected profit from ticket sales is maximized.

Scenario Probability Game-Day Demand 10% 40% 30% 20% 100 600 1,100 1,700 Scenario Probability Game-Day Demand 10% 40% 30% 20% 100 600 1,100 1,700