This problem contains three parts. In Part A, you are asked to determine the parameters of the profit equation - CM and FC. You should not move on to Parts B and C until you get Part A correct, or until you use up all of your tries. The correct profit function parameters will be given to you after you have completed Part A and you should use them in Parts B and C. The problem is worth 20 points. Parts A and Bare worth eight points each: Part is worth four points. There is no partial credit within a part-to get all the points for a part, you must answer all the questions in that part. You get eight tries on each of the first two parts and four tries on the last part. The Pritzker Music Pain in downtown Chicago la technologically sophisticated and uniquely designed performing arts venue that hosts we concerts attended by over half a million patrons a year. A group of local organizers, led by a prominent local businesswoman, would like to use the pavilion for a concert to benefit a non-profit, national network of investors and environmental organizations non-profit for absorb any losses) working with companies and investors to address sustainability challenges such as plotal climate change. If the pavilion management agrees to host the concert, the organizers wil donate a profits to the Based on the towing revenue and cost information, the organisers would like awwers to several questions There are three sources of revenue for the concert: 1. Tickets we be sold for $15.50 each 2. A large multinational corporation headquartered in Chicago wil donate $2.00 per tickets atach concert attendee a expected to spend an average of $20.00 for parking, Food, and merchandise On the expense side, there are also three components 1. A popular national proup has agreed to perform at the concert. Normally, the group demands a significant fived fee to perform, but to reduce the risk for the organizers, the group has agreed to perform for $7.00 per ticket sold 2. The organizers will pay several companies to operate the parking, food, and merchandise concessions. They will pay $24,000 plus 14% of all parking, food, and merchandise revenue. 3. The organers will pay the pavilion $90,000 plus 56.00 per ticket sold to cover its operating expenses (production, maintenance, advertising, etc.) REQUIRED Part A (8 tries points) 1. What is the estimated contribution margin per ticket sold for the benefit concert (rounded to two decimal places)? 21.7000 correct 2. What are the estimated total foed costs for the benefit concert? 114000 correct You are correct perform for $7.00 per sold e per conto C OBRU FOULE oren e roupas 2. The organisers will pay everal companies to operate the parking, food, and merchandise concession. They will pay $24,000 plus 14% of pain food, and merchandise rerence 1. The organisers will be the perilen $90,000 pus 56.00 per ticket told to cover its corating perses foroduction, maintenance, advertising, etc.) REQUIRED Part A (tress points) 1. What the estimated contribution mayin per ticket sold for the benefit concert (rounded to two decimal places)? 2.700 correct 2. What are the estimated total fixed costs for the benelle concert? 114000 correct Sout recono 161-387) Tres Your answers are correct, but just to make sure that there are no rounding issues, use $21.70 for the estimated contribution margin per ticket sold and 5114,000 for the estimated monthly fed costs in Parts B and C. You are correct Part 3.8 tries: 8 points) 1. What is the estimated profit from the benefit concert 11,000 tickets are sold 124700 correct 2. How many tickets must be sold in order for concert profit to be $90,000 400.92 correct 3. Assuming a tax rate of 40% on profits from the concert, what must dollar tickets be in order for fer-tax concert profits to be $90.0001 12165.0 Submit Answer you have entered that answer before correct. The Press incorrect Part (4 tries: 4 points) 1. Assume that the organizers can negotate the fed portion of the person's coating crentes. If the organizers expect to sell 11.000 tits, how much operating fixed costs can they afford to pay and still earn a profit of $90.000 (ignore taxes Sur Awe Tries 0/4 Threaded View Chronological Other Views My general preferences on what is marked as NEW Excort Mark NEW DEW NEW Part 3.) Anonymous I Realy (Mon Sep 13 01:24:54 pm 2021 (EDT)) This problem contains three parts. In Part A. you are asked to determine the parameters of the profit equation CH and FC. You should not move on to Parts and Cuntil you get Part A correct, or until you use up all of your tries. The correct profit function parameters will be given to you after you have completed Part A and you should use them in Parts and C. The problem is worth 20 points, Parts A and are worth eight points each: Part is worth four points. There is no partial credit within a part to get all the points for a part, you must answer all the questions in that part. You get eight tries on each of the first two parts and four tries on the last part The Merker Music Pavilion in downtown Chicago is a tecnologically sophisticated and uniquely designed performing arts vet hosts ive concerts attended by over hala milion patrons a year A group of local organisers led by a prominent local businesswoman, would see to use the pavilion for a concert to benefit a non-profit, rational network of investors and environmental organisation working with companies and investors to address sustainability challenges such as global climate change the pavilion management agrees to host the concert, the organizers wil donate a profits to the con pront (or absorb any losses) Based on the following revenue and cost information, the organizers would like answers to several cutstions There are three sources of revenue for the cout 1. Tickets will be sold for $15.50 each 2. A large nu tinational corporation headquartered in Chicago wil domate $2.00 per ticket sold. Exch concert attendee is expected to spend an average of 520.00 for parking, food, and merchandise Os the expense side, there are also the components LA sopular national group has agreed to perform at the concert. Normally, the group demands aficant feed fee to perform, but to reduce the risk for the organizers, the grove has agreed to perform for $7.00 per ticket sold 2. The organizers will pay several companies to coerate the pereng, food, and merchanoise concessions. They will pay $24,000 plus 14% of a parking, food, and merchandise revenue 2. The organizers will say the partion $90,000 plus 56.00 per ticket sold to cover its operating expenses (production, maintenance, advertising, etc.) REQUIRED Part A (tries8 points) 1. What is the estimated costrution margin Der ticket sold for the benefit concert (rounded to two decal places)? 21.7000 correct 2. What are the estimated totalted costs for the benefit concert? 114000 correct This problem contains three parts. In Part A, you are asked to determine the parameters of the profit equation - CM and FC. You should not move on to Parts B and C until you get Part A correct, or until you use up all of your tries. The correct profit function parameters will be given to you after you have completed Part A and you should use them in Parts B and C. The problem is worth 20 points. Parts A and Bare worth eight points each: Part is worth four points. There is no partial credit within a part-to get all the points for a part, you must answer all the questions in that part. You get eight tries on each of the first two parts and four tries on the last part. The Pritzker Music Pain in downtown Chicago la technologically sophisticated and uniquely designed performing arts venue that hosts we concerts attended by over half a million patrons a year. A group of local organizers, led by a prominent local businesswoman, would like to use the pavilion for a concert to benefit a non-profit, national network of investors and environmental organizations non-profit for absorb any losses) working with companies and investors to address sustainability challenges such as plotal climate change. If the pavilion management agrees to host the concert, the organizers wil donate a profits to the Based on the towing revenue and cost information, the organisers would like awwers to several questions There are three sources of revenue for the concert: 1. Tickets we be sold for $15.50 each 2. A large multinational corporation headquartered in Chicago wil donate $2.00 per tickets atach concert attendee a expected to spend an average of $20.00 for parking, Food, and merchandise On the expense side, there are also three components 1. A popular national proup has agreed to perform at the concert. Normally, the group demands a significant fived fee to perform, but to reduce the risk for the organizers, the group has agreed to perform for $7.00 per ticket sold 2. The organizers will pay several companies to operate the parking, food, and merchandise concessions. They will pay $24,000 plus 14% of all parking, food, and merchandise revenue. 3. The organers will pay the pavilion $90,000 plus 56.00 per ticket sold to cover its operating expenses (production, maintenance, advertising, etc.) REQUIRED Part A (8 tries points) 1. What is the estimated contribution margin per ticket sold for the benefit concert (rounded to two decimal places)? 21.7000 correct 2. What are the estimated total foed costs for the benefit concert? 114000 correct You are correct perform for $7.00 per sold e per conto C OBRU FOULE oren e roupas 2. The organisers will pay everal companies to operate the parking, food, and merchandise concession. They will pay $24,000 plus 14% of pain food, and merchandise rerence 1. The organisers will be the perilen $90,000 pus 56.00 per ticket told to cover its corating perses foroduction, maintenance, advertising, etc.) REQUIRED Part A (tress points) 1. What the estimated contribution mayin per ticket sold for the benefit concert (rounded to two decimal places)? 2.700 correct 2. What are the estimated total fixed costs for the benelle concert? 114000 correct Sout recono 161-387) Tres Your answers are correct, but just to make sure that there are no rounding issues, use $21.70 for the estimated contribution margin per ticket sold and 5114,000 for the estimated monthly fed costs in Parts B and C. You are correct Part 3.8 tries: 8 points) 1. What is the estimated profit from the benefit concert 11,000 tickets are sold 124700 correct 2. How many tickets must be sold in order for concert profit to be $90,000 400.92 correct 3. Assuming a tax rate of 40% on profits from the concert, what must dollar tickets be in order for fer-tax concert profits to be $90.0001 12165.0 Submit Answer you have entered that answer before correct. The Press incorrect Part (4 tries: 4 points) 1. Assume that the organizers can negotate the fed portion of the person's coating crentes. If the organizers expect to sell 11.000 tits, how much operating fixed costs can they afford to pay and still earn a profit of $90.000 (ignore taxes Sur Awe Tries 0/4 Threaded View Chronological Other Views My general preferences on what is marked as NEW Excort Mark NEW DEW NEW Part 3.) Anonymous I Realy (Mon Sep 13 01:24:54 pm 2021 (EDT)) This problem contains three parts. In Part A. you are asked to determine the parameters of the profit equation CH and FC. You should not move on to Parts and Cuntil you get Part A correct, or until you use up all of your tries. The correct profit function parameters will be given to you after you have completed Part A and you should use them in Parts and C. The problem is worth 20 points, Parts A and are worth eight points each: Part is worth four points. There is no partial credit within a part to get all the points for a part, you must answer all the questions in that part. You get eight tries on each of the first two parts and four tries on the last part The Merker Music Pavilion in downtown Chicago is a tecnologically sophisticated and uniquely designed performing arts vet hosts ive concerts attended by over hala milion patrons a year A group of local organisers led by a prominent local businesswoman, would see to use the pavilion for a concert to benefit a non-profit, rational network of investors and environmental organisation working with companies and investors to address sustainability challenges such as global climate change the pavilion management agrees to host the concert, the organizers wil donate a profits to the con pront (or absorb any losses) Based on the following revenue and cost information, the organizers would like answers to several cutstions There are three sources of revenue for the cout 1. Tickets will be sold for $15.50 each 2. A large nu tinational corporation headquartered in Chicago wil domate $2.00 per ticket sold. Exch concert attendee is expected to spend an average of 520.00 for parking, food, and merchandise Os the expense side, there are also the components LA sopular national group has agreed to perform at the concert. Normally, the group demands aficant feed fee to perform, but to reduce the risk for the organizers, the grove has agreed to perform for $7.00 per ticket sold 2. The organizers will pay several companies to coerate the pereng, food, and merchanoise concessions. They will pay $24,000 plus 14% of a parking, food, and merchandise revenue 2. The organizers will say the partion $90,000 plus 56.00 per ticket sold to cover its operating expenses (production, maintenance, advertising, etc.) REQUIRED Part A (tries8 points) 1. What is the estimated costrution margin Der ticket sold for the benefit concert (rounded to two decal places)? 21.7000 correct 2. What are the estimated totalted costs for the benefit concert? 114000 correct