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nt allocation to each locatie s Round function. Round the nearest tenth.) Use the leting your calculations, us

nt allocation to each locatie s Round function. Round the nearest tenth.) Use the leting your calculations, us

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Kindly use Excel when answering a and b and don't forget the NOTE stated.

You are the owner of a chain of three successful restaurants with the following number of seats in each location: airport, 340 seats; downtown, 218 seats; and suburban, 164 seats. a. If the liability insurance premium is $16,000 per year, how much of that premium should be allocated to each of the restaurants, based on percent of total seating capacity? Note: First find the percent allocation to each location. Round these percents to the nearest tenth. (Use Excel's Round function. Round the decimal result to 3 places in order to round the percent to the the nearest tenth.) Use these rounded percents in your final calculations. Excel Extra: After completing your calculations, use Excel's Chart Wizard to create a pie chart to show the percent allocated to each category. Total insurance premium = $16,000.00 Number of seats Percent of total Premium allocation Airport = 340 Downtown = 218 Suburban = 164 Total = 722
Transcribed Image Text:You are the owner of a chain of three successful restaurants with the following number of seats in each location: airport, 340 seats; downtown, 218 seats; and suburban, 164 seats. a. If the liability insurance premium is $16,000 per year, how much of that premium should be allocated to each of the restaurants, based on percent of total seating capacity? Note: First find the percent allocation to each location. Round these percents to the nearest tenth. (Use Excel's Round function. Round the decimal result to 3 places in order to round the percent to the the nearest tenth.) Use these rounded percents in your final calculations. Excel Extra: After completing your calculations, use Excel's Chart Wizard to create a pie chart to show the percent allocated to each category. Total insurance premium = $16,000.00 Number of seats Percent of total Premium allocation Airport = 340 Downtown = 218 Suburban = 164 Total = 722
b. If the restaurant chain opens a fourth location at the beach, with 150 seats, and the total insurance premium increases by 17%, what is the new allocation of insurance premiums among the four locations? Excel Extra: After completing your calculations, use Excel's Chart Wizard to create a pie chart to show the percent allocated to each category. Percent increase in premium = $16,000.00 New insurance premium = Number of seats Percent of total Premium allocation Airport = 340 Downtown = 218 Suburban = 164 Beach = 150 Total =
Transcribed Image Text:b. If the restaurant chain opens a fourth location at the beach, with 150 seats, and the total insurance premium increases by 17%, what is the new allocation of insurance premiums among the four locations? Excel Extra: After completing your calculations, use Excel's Chart Wizard to create a pie chart to show the percent allocated to each category. Percent increase in premium = $16,000.00 New insurance premium = Number of seats Percent of total Premium allocation Airport = 340 Downtown = 218 Suburban = 164 Beach = 150 Total =
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