A band wants to hold a concert with an expected crowd of, Ask an Expert

Management Studies

A band wants to hold a concert with an expected crowd of 3,000. Tickets sell for $10 and the average spending on concessions per attendee is $15. The profit is 80% at the gate, along with concession sales, minus a fixed cost of $10,000.

Suppose the expected crowd is normally distributed with a mean of 3,000 and a SD of 200. Use Excel's NORM.INV function and a one-way data table to conduct a Monte Carlo simulation to find the distribution of the expected profit.

View complete question

Strategic Management, Management Studies

Category:- Strategic Management
Reference No.:- M9204380

Have any Question?Write your Review or question?

Related Questions in Strategic Management

Strategic project management assessment case study -

Strategic Project Management Assessment Case Study - DeGrandis Sporting Goods DeGrandis Sporting Goods is a large Australian retailer of exercise and sporting equipment. The company sells a number of well-known internati ...

Question - the discussion thread is centered on the

Question - The discussion thread is centered on the resource-based view of the firm as espoused by Jay Barney. In the section on Human Resources in your text, Barney's focus on the correlation between superior financial ...

Question strategic planning and financial planningprior to

Question: Strategic Planning and Financial Planning Prior to completing this discussion, read Chapter 13 from your course text. Select a health care organization and answer the following questions as they relate to your ...

1 the table below shows the gold grade results from a core

1. The table below shows the gold grade results from a core drilling program undertaken on a regular 100m x 100m grid. Gold ore q/tonne Au at coordinate values Northing coordinate (m) Easting Coordinate (m) 0 100 200 ...

Assessment - strategic position planpurpose description and

Assessment - Strategic Position Plan Purpose, description and topics covered Purpose: The purpose of this assessment is to enable students to develop a plan for a specific organisation. Description: This assessment requi ...

In groups of no more than three students you are to select

In groups of no more than three students you are to select a superior-performing (industry above-average performance) firm (Any company except FLIGHT CENTRE) that is listed on a stock exchange and provide background info ...

Purpose of assignmentthe purpose of this assignment is to

Purpose of Assignment The purpose of this assignment is to help students understand strategic business terminology (vision, mission, goals, objectives, specific objectives, internal and external scanning), to recognize t ...

Strategic management assignment -select an organization

Strategic Management Assignment - Select an organization with which you are familiar and undertake the following tasks: Your focus should be on a Strategic Business Unit (SBU). In the case of a small or a medium sized or ...

Question a rental company owns a building from which it

Question: A rental company owns a building from which it leases out multiple offices. During the year it received the following advance rental payments for one-year leases from separate tenants: $24,000 in June, $36,000 ...

Discussion instructionsstrategic planningdiscuss the

Discussion Instructions Strategic Planning Discuss the elements of strategic management and explain why it is crucial to an organization's survival. Excluding the examples from the textbook, give an example of a company ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Strategic Management Expert