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...

See similar textbooks

Related questions

Q: Roger Ginde is developing a program in supply chain management certification for managers. Ginde has…

A: A precedence diagram can be defined as the visual representation of a project's dependencies and job…

Q: Your organisation has made the decision to duplicate its product database across numerous servers in…

A: Operations management is essential to efficiently operating an organization's systems and…

Q: Describe the profit potential for the following industry: Low entry barriers, suppliers and buyers…

A: The question is based on Porter's five forces of the market: Power of suppliers Power of customers…

Q: he following are some observations of worker timings for a number of elements that make up a task.…

A: Task Obs. 1 Obs. 2 Obs. 3 Obs. 4 Obs. 5 Obs. 6 Performance rating A 8 9 10 13 14 12 120% B 3 4…

Q: Use the Excel template VLC to find the average value of a loyal customer (VLC) in a target market…

A: Here, Average purchase price =75 per visit, The frequency for repurchase is 6 times per year, The…

Q: Pepsi-Cola was incorporated in Delaware in 1919 and reincorporated in North Carolina in 1986.…

A: Find the Given details below: Stockouts: Pepsi Co Jamaica 8% in comparison to Pepsi Cola’s global…

Q: Virtual machines and memory are opposites. How do corporate objectives compare? Which options have…

A: Virtualization technology has transformed the IT industry by allowing for the optimal use of…

Q: Western Chassis produces high-quality polished steel and aluminum sheeting and two lines of…

A: Suppose-A Pounds of Steel Sheeting to be polishedB Pounds of Aluminium Sheeting to be polishedC No.…

Q: METHODOLOGY need for "comprehensive guides to popular travel destinations in Saudi Arabi

A: Saudi Arabia has become a populaMany visitors, however, have difficulty navigating the country's…

Q: Find the value of X in the following Flow Shop data consisting of 5 jobs which are to be processed…

A: Johnson's Rule is a sequencing method that can be applicable in scheduling into two workstations.…

Q: How can organizations effectively balance the competing demands of employee autonomy and control?

A: Two of the more often used terms in contemporary workplace management are autonomy and cooperation.…

Q: Based on the following sensitivity results on constraints, what is the optimal LP solution for…

A: Sensitivity analysis is helpful to specify the robustness of the - optimal solution. If the optimal…

Q: Pauline Found Manufacturing, Inc., is moving to kanbans to support its telephone switching-board…

A: Set up Cost S 30 Annual Holding Cost H 125 Daily Production p 30 Annual Usage D 3000 Lead…

Q: Case Study 1: Forecasting Your line manager, Ms Lionheart, has collected and scrutinised performance…

A: The goal of this research is to examine a company's performance data, specifically inventories and…

Q: What are the most important benefits of managing projects? What would it be like without project…

A: Here, for this Q, first, I would discuss the most important benefits of managing projects, and what…

Q: True or False One of the early design processes is called “ over-the-wall design process”. One…

A: The process of creating and bringing new or enhanced products to market is known as product…

Q: Assume the network and data that follow: Activity A B с D E F Normal Time Normal Cost Crash Time…

A: A network diagram is a graphical representation of project which helps to identify the activity…

Q: Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field…

A: EOQ stands for economic order quantity. It is a company's optimal order quantity that undervalues…

Q: 4. Consider the following table indicating the number of units of clothing and food produced per…

A: Ans) Country T produce more clothing and food as compared to country J. Thus, Country T has…

Q: A manufacturer's average WIP inventory for Part #1845 is 776 parts. The workstation produces parts…

A: Here, the average WIP Inventory is 776 parts, The workstation produces parts, the rate is 255 parts…

Q: 0 5 4 A 5 What is the Early Finish for Activity B? A: 10 B: 12 C: 3 Answer: 0 10 B 10 D: 13 0 10 C 3…

A: Project management is a field of study where specific tools and techniques are used to monitor and…

Q: How can startbucks company use multiple regression? Please provide an example and identify dependent…

A: Here, I would state how a company like Starbucks could use multiple regression, I would also include…

Q: A checkout line at a grocery store takes an average of 2.25 minutes to ring up a customer's order.…

A: Work in progress (WIP) = 4 (customers in the checkout line) Flow time (T) = 2.25 minutes

Q: Any company's main purpose is to benefit stakeholders and competitors. d. service 4. In a…

A: The supply chain is a vital value chain in a manufacturing organisation that oversees the movement…

Q: What exactly is prudence? Why should a business ensure it is exercising reasonable care in its…

A: Organizational operations include a set of several activities which help in production of an output.…

Q: explain how nature of the product being manufactured might affect the risk appetite of a business

A: Risk appetite is a notion that allows organisations to decide how much risk they are ready to face…

Q: several activities can occur in both materials management and physical distribution management.…

A: Materials management and physical distribution management are two critical areas of supply chain…

Q: Harris Teeter is a small local grocery store with one checkout counter. Shoppers arrive at the…

A: Average arrival rate (λ)= 1860 per minutesAverage service time (μ)= 12 per minutes

Q: Define the specific terms by Johnny Cash, Grand Old Opry, and Southern Strategy with their…

A: Define the specific terms by Johnny Cash, Grand Old Opry, and Southern Strategy with their…

Q: a. Take the position of the CM. Why is it to the owner’s and the architect’s advantage to employ…

A: For the preconstruction and construction phases of a $30 million shelled office building project,…

Q: Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The…

A: Operating days = 300 days per yearAnnual demand (D) = 12,300 flashing lightsDaily demand(d) =…

Q: The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements…

A: Month Demand January 1500 February 1700 March 1700 April 1700 May 2300 June 2100…

Q: year will be $11,136,000 with 174,000 Thomlin Company forecasts that total overhead for the current…

A: Predetermined overhead rate = Estimated Overheads/Estimated Machine Hours In the given case,…

Q: Formulate an LP for this problem and solve the problem using the simplex method.How many Cram-Decker…

A: Let x1 be the number of Cram-Deckers produced x2 be the number of Triple Deckers produced. The…

Q: describe How can firms use product differentiation to enter new markets?

A: Product development is the process of creating a new product or changes in the existing product so…

Q: A furniture company is producing two types of furniture. Product A requires 8 board feet of wood and…

A: Types of furniture = Product A and B For Product A: Board feet required = 8 feet Wicker required = 2…

Q: College Creations, Inc (CC), builds a loft that is easily adaptable to most dorm rooms or apartments…

A: Selling price = $500Variable (Production) cost = $300 per loftFixed costs = $100,000

Q: It was reported that an operations manager said, "The boss never listens to me; all that the boss…

A: Answer) (a) To properly carry out its activities, any organization must have a clear knowledge of…

Q: There are four possible states in total: no machine is down, only machine 1 is down, only machine 2…

A: Let's denote the four states as follows: State 0: Both machines are up and functioning. State 1:…

Q: The instructional technology is divided into three distinct parts, all of which collaborate well…

A: Instructional technology entails using technology to plan, develop, and deliver instruction with the…

Q: What is risk management approach?

A: Effective risk management is an indispensable element of operations management. It entails the…

Q: Write a research paper proposing a M-Commerce solution to solve a particular business problem. You…

A: The emergence of mobile commerce, or M-Commerce, has significantly changed the retail sector in…

Q: U.S. productivity has improved noticeably in recent years, averaging 4%–5% per year, while the U.S.…

A: The issue of American employees' status in the contemporary economy is complex and multifaceted.…

Q: Problem 1 Facility Location. A paper products manufacturer has enough capital to build and manage…

A: Find the given details below: Given details: Plant site Cities Los Angeles Topeka New…

Q: Construct a PERT network from the following table. Find the critical path and variance for ea event,…

A: A network diagram shows the link of each task with the duration taken by each activity with respect…

Q: True or false: A project plan outlines very basic activities for a project. Question options:…

A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…

Q: Number of Pickers (per Hour) 0 1 2 3 4 5 6 7 8 9 Total Strawberry Output (Boxes per Hour) 0 5 10 14…

A: Inventory management is the process that is adopted by the inventory manager for managing the stock…

Q: When did the concept of 3D printing first become widely available to the public?

A: 3D printing, also known as additive manufacturing, is a groundbreaking technology that permits the…

Q: Describe the difference between Just-in-time (JIT) and just-in-case (JIC), discussing at least two…

A: Organizations frequently employ just-in-time (JIT) and just-in-case (JIC) inventory management…

Q: What is the expected average number of snowplows in the garage (waiting for repair and being…

A: Arrival rate is Poisson distribution and service rate is exponential. Arrival rate λ = 5 per…

Question

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 100
guests (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, DECIDE
WHICH AREAS/TASKS BUDGET TO BE ADJUSTED AND USE EXCEL SOLVER TO CREATE YOUR FINAL BUDGET. Submit your plan
and your reasoning behind the decisions and why your plan will make the event a success (3 to 4 pages word document double
spaced). 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.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction:

VIEW

Step 2: Explanation:

VIEW

Solution

VIEW

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

The Vice President of Corporate Communications has charged your department, with the task of planning the awards function for the sales representatives, with a budget of $3 million. This plan is to be presented to the senior management team for approval. What are some goal and objectives of this plan?
You have been hired by a contractor, who wants you to manage a constructionproject for one of their clients. The project team has been working for twomonths, and is 35% done with the job. Two of your team members come toyou with a conflict about how to handle the ongoing maintenance for a pieceof equipment. You know that they can safely ignore the problem for a while,and you’re concerned that if your project falls behind schedule before nextweek’s stakeholder meeting, it will cause problems in the future. You tell thetwo team members that the problem really isn’t as bad as they think it is, andif they take a few days to cool off about it you’ll help them with a solution.This approach to conflict resolution is known as ______.A. WithdrawalB. CompromiseC. SmoothingD. Forcing You are a project manager for a software project. As you are defining thescope of the work you need to do, you sit down with all of the project’sstakeholders and record all of the requirements you can get from…
As a communication tool, these can be used in the management control process. Which is the correct sequence? Select the correct response Approval of plans, feedforward, corrective action, feedback feedforward, Approval of plans, corrective action, feedback feedforward, Approval of plans, feedback, corrective action Approval of plans, feedforward, feedback, corrective action
In Special Events and Management 1. Event Planning and Organization  Choose a type of special event (e.g., fundraiser, conference, gala) anddevelop a comprehensive plan for organizing it. Identify the event's goals, target audience, timeline, and location. Develop a detailed schedule of activities and assign responsibilities toteam members. Ensure that all necessary permits, licenses, and insurance are obtained.2. Budgeting and Financial Management  Develop a realistic budget for the special event. Identify all sources of revenue and expenses. Monitor expenses throughout the planning process to ensure that thebudget is not exceeded. Develop contingency plans for unexpected expenses. 3. Logistics and Operations Management  Develop a detailed plan for managing logistics and operations during thespecial event. Ensure that all necessary equipment, supplies, and personnel areavailable. Coordinate with vendors, contractors, and other third-party serviceproviders as…
Assume Bangladesh National Cricket Team needs to find a new head coach for the team. The cricket team’spresent and the future success largely depends on the formulations and implantation of the plans laid by thehead coach. The cricket board has given you the responsibility to prepare the job responsibilities of the newhead coach. You need to pinpoint very carefully which tasks he is supposed to do, as you also need to identifywhich skills and qualifications he must possess to do those required tasks smoothly. Prepare the job descriptionand job specification for the position of “Head Coach” of Bangladesh Cricket Team.
Video: https://youtu.be/VI0Qh_VpIEw Phill AlzinwaleTitle: Earned Value Management Basics1. What are the three basic questions to ask regarding the budget and earned value?2. What are formulas for earned value management?3. What is the criteria to determine if the cost or schedule variance is over budget or underbudget and over schedule or under schedule?4. How much work will be done? represents the work was _________ for the project and isthe ______________.5. How much work was done? represents the amount of work that was ____________ andis the _______________.6. How much was spent on work done represents what was __________ spent and is the__________.
You are hosting an important event on campus, the RSVP’s are in and there will be 100 guests (not fellow students) attending. You forgot to ask for help and the event is only 4 days away; it is now up to your group members to make this a successful event. Over the next week your group needs to identify tasks, set priorities and come up with a plan to make this happen. You cannot ask any other people to help You have a budget of $20,000.00 YOU MUST CREATE AN INITIAL BUDGET SPREADSHEET SHOWING A BUDGET GREATER THAN $20,000. SET YOUR CONSTRAINTS, DECIDE WHICH TASKS BUDGET TO BE ADJUSTED AND USE EXCEL SOLVER TO CREATE YOUR FINAL BUDGET. Submit your plan and your reasoning behind the decisions and why your plan will make the event a success. Also submit the excel spreadsheet showing your initial budget and your final budget with the constraints.
What method of planning the sequence of events has been shown to be the most successful?
Training and developmentAdequate training and development of the personnel who work in your business is important to achieve the objectives set during the planning process. That is why it is important to develop activities that promote the continuous development of staff. For this part of the assignment, write a training program that includes the following aspects: IV. Determine the modality in which the activity will be carried out (in person, e-training, workshop, etc.)V. Includes the budget items that you must consider for the development of the activity.
what tools do we use to manage pjoect schedules and how do we decide what to use? does it work effectively
XYZ is a privet company planning to open a new department and hire new employees. A. What type of plan must be adopted by XYZ company? Why? B. Explain any two planning tools and techniques with suitable examples?
You are in your last semester of college and have been looking for a job. You have registered with the placement office and posted your résumé online, but the jobs that are available leave a bit to be desired. In one of your classes you overhear a classmate, Max, talking about an interview he had last week. Max said that he really wanted the job but didn’t think his interview went particularly well. He is currently waiting to hear back from the employer. As Max was describing the position, you thought it sounded very interesting, but you wondered if it would be right for you to pursue the position since Max had found it first. Question: If you interview for the job, how would you respond if asked how you heard about the opening?