Only solve the first part in black not red. Use excel spreadsheets. ▪ You are hosting an important event (Event examples: Graduation celebration, Family Reunion, Wedding, etc) and there will be about 100guests (not fellow students) attending. The event will be for three (3) consecutive days. It is now up to you to make this a successful event.Over the next week you need to identify tasks, set priorities and come up with a plan to make this happen.You have initial budget of $100,000.00.o You must identify at least five (5) areas/tasks where you need to spend this money for the three days of the event, example hall rental,equipment rental, food and drinks, entertainment, etc.o You must create an initial budget sheet showing the distribution of the $100,000 for the three days.o Finally, due to budget constraint, your inititial budget of $100,000 has been reduced to $75,000. SET YOUR CONSTRAINTS, DECIDEWHICH AREAS/TASKS BUDGET TO BE ADJUSTED AND USE EXCEL SOLVER TO CREATE YOUR FINAL BUDGET. Submit your planand your reasoning behind the decisions and why your plan will make the event a success (3 to 4 pages word document doublespaced). Also submit your excel spreadsheet showing the distribution of your initial budget of $100,000 and your final budget of$75.000 with the constraints you set.

Note: As instructed, only the first part in black is solved here and not the red part. A budget in…

Answered: Only solve the first part in black not…

Business

Operations Management

Only solve the first part in black not red. Use excel spreadsheets.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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