(Answered) A garage band imaginenbspmetallicanbspin early days wants

Management Studies

A garage band (imagine Metallica in early days) wants to hold a concert.

Suppose that the expected crowd is normally distributed with a mean of 3,000 and standard deviation of 200.
The average expenditure on concessions is $15.
Tickets sell for $10 each.
The band's profit is 80% of the gate and concession sales, minus a fixed cost of $10,000.
Use the NORM.INV function and a one-way data table to conduct a Monte Carlo simulation with 25 trials to find the distribution of the expected profit.

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Business Management, Management Studies

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