A garage band wants to hold a concert. The expected crowd is 2,500 The average expenditure on concessions is $35 Tickets sell for $30 each, and the band's profit is 80% of the gate and concession sales minus a fixed cost of $19,000, Develop a mathematical model and implement it on a spreadsheet to find the band's expected profit 1 Expected Crowd 2 Average Concessions Expenditure 3 Fixed Cost 4 Ticket Price 5 Profit percentage 6 Ticket Revenue =B1'B4 7 Concession Revenue =B1'B2 8 Profit =DB5'(B6+B7)-B3

A garage band wants to hold a concert. The expected crowd is 2,500 The average expenditure on concessions is $35 Tickets sell for $30 each, and the band's profit is 80% of the gate and concession sales minus a fixed cost of $19,000, Develop a mathematical model and implement it on a spreadsheet to find the band's expected profit 1 Expected Crowd 2 Average Concessions Expenditure 3 Fixed Cost 4 Ticket Price 5 Profit percentage 6 Ticket Revenue =B1'B4 7 Concession Revenue =B1'B2 8 Profit =DB5'(B6+B7)-B3

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

Question

5) Solve the bottom portion...see picture

**Concert Profit Calculation Spreadsheet Model**

A garage band plans to hold a concert with an expected crowd of 2,500 people. The average expenditure on concessions is projected to be $35 per person. Tickets will be sold at $30 each. The band anticipates a profit that constitutes 80% of the total revenue from ticket sales and concessions, minus a fixed cost of $19,000.

To calculate the band's expected profit, the following spreadsheet model is suggested:

### Spreadsheet Model:

**A:**
- 1: Expected Crowd
- 2: Average Concessions Expenditure
- 3: Fixed Cost
- 4: Ticket Price
- 5: Profit Percentage
- 6: Ticket Revenue
- 7: Concession Revenue
- 8: Profit

**B:**
- 1: 2500 people
- 2: $35 per person
- 3: $19,000
- 4: $30 per person
- 5: 80%

### Formulas:

- **Ticket Revenue (B6):** `=B1*B4`
Calculates the total revenue from ticket sales.

- **Concession Revenue (B7):** `=B1*B2`
Calculates the total revenue from concessions.

- **Profit (B8):** `=B5*(B6+B7)-B3`
Determines the final profit after accounting for the fixed cost and allocated percentage of the sales revenue.

This model allows the band to proactively estimate their expected earnings and make informed decisions about their concert planning and budgeting.

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