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(Type integers or decimals. Do not round.) A C 1 Expected Crowd people 2 Average Concessions Expenditure per person 3 Fixed Cost 4 Ticket Price per person 5 Profit percentage 6 Ticket Revenue 7 Concession Revenue 8 Profit %24 %24 %24 %24 %24 %24

(Type integers or decimals. Do not round.) A C 1 Expected Crowd people 2 Average Concessions Expenditure per person 3 Fixed Cost 4 Ticket Price per person 5 Profit percentage 6 Ticket Revenue 7 Concession Revenue 8 Profit %24 %24 %24 %24 %24 %24

Practical Management Science
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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(Type integers or decimals. Do not round.) A C 1 Expected Crowd people 2 Average Concessions Expenditure per person 3 Fixed Cost 4 Ticket Price per person 5 Profit percentage % 6 Ticket Revenue 7 Concession Revenue 24 8 Profit Enter your answer in the edit fields and then click Check Answer. %24 %24 %24 %24 %24 %24
Transcribed Image Text:(Type integers or decimals. Do not round.) A C 1 Expected Crowd people 2 Average Concessions Expenditure per person 3 Fixed Cost 4 Ticket Price per person 5 Profit percentage % 6 Ticket Revenue 7 Concession Revenue 24 8 Profit Enter your answer in the edit fields and then click Check Answer. %24 %24 %24 %24 %24 %24
Question Help v A garage band wants to hold a concert. The expected crowd is 2,600. 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. Write Excel formulas for the unknown values in the model. 1 Expected Crowd 2 Average Concessions Expenditure 3 Fixed Cost 4 Ticket Price 5 Profit percentage 6 Ticket Revenue =81*B4 7 Concession Revenue =B1*B2 8 Profit =B5*(B6+B7)-B3 Complete the following spreadsheet model. (Type integers or decimals. Do not round) B 1 Expected Crowd реople 2 Average Concessions Expenditure per person 3 Fixed Cost 4 licket Price $ per person 5 Profit percentage Enter your answer in the edit fields and then click Check Answer.
Transcribed Image Text:Question Help v A garage band wants to hold a concert. The expected crowd is 2,600. 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. Write Excel formulas for the unknown values in the model. 1 Expected Crowd 2 Average Concessions Expenditure 3 Fixed Cost 4 Ticket Price 5 Profit percentage 6 Ticket Revenue =81*B4 7 Concession Revenue =B1*B2 8 Profit =B5*(B6+B7)-B3 Complete the following spreadsheet model. (Type integers or decimals. Do not round) B 1 Expected Crowd реople 2 Average Concessions Expenditure per person 3 Fixed Cost 4 licket Price $ per person 5 Profit percentage Enter your answer in the edit fields and then click Check Answer.
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