The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives six free seats to each symposium. Nonmembers wishing to attend must pay $75 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event: Rental cost for the auditorium: Registration Processing: Speaker Costs: Continental Breakfast: $150 $8.50 per person 3@$800 $2,400 $4.00 per person Lunch: Parking: $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Build a spreadsheet model that calculates a profit or loss based on the number of nonmember registrants. Account for the fact that, historically, 25% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center only pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 127 nonmembers register? If required, round your answers to two decimal places. x
The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives six free seats to each symposium. Nonmembers wishing to attend must pay $75 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for putting on this event: Rental cost for the auditorium: Registration Processing: Speaker Costs: Continental Breakfast: $150 $8.50 per person 3@$800 $2,400 $4.00 per person Lunch: Parking: $7.00 per person $5.00 per person (a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Build a spreadsheet model that calculates a profit or loss based on the number of nonmember registrants. Account for the fact that, historically, 25% of members who registered do not show and 10% of registered nonmembers do not attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center only pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 127 nonmembers register? If required, round your answers to two decimal places. x
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 4CE
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Transcribed Image Text:The University of Cincinnati Center for Business Analytics is an outreach center that collaborates with industry partners on applied research and continuing
education in business analytics. One of the programs offered by the center is a quarterly Business Intelligence Symposium. Each symposium features three
speakers on the real-world use of analytics. Each corporate member of the center (there are currently 10) receives six free seats to each symposium.
Nonmembers wishing to attend must pay $75 per person. Each attendee receives breakfast, lunch, and free parking. The following are the costs incurred for
putting on this event:
Rental cost for the auditorium:
Registration Processing:
Speaker Costs:
Continental Breakfast:
$150
$8.50 per person
3@$800 $2,400
$4.00 per person
Lunch:
Parking:
$7.00 per person
$5.00 per person
(a) The Center for Business Analytics is considering a refund policy for no-shows. No refund would be given for members who do not attend, but
nonmembers who do not attend will be refunded 50% of the price. Build a spreadsheet model that calculates a profit or loss based on the number of
nonmember registrants. Account for the fact that, historically, 25% of members who registered do not show and 10% of registered nonmembers do not
attend. The center pays the caterer for breakfast and lunch based on the number of registrants (not the number of attendees). However, the center only
pays for parking for those who attend. What is the profit if each corporate member registers their full allotment of tickets and 127 nonmembers register?
If required, round your answers to two decimal places.
x
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