Hannah Byers and Kathleen Taylor are considering the possibility of teaching swimming to kidsduring the summer. A local swim club opens its pool at noon each day, so it is available to rentduring the morning. The cost of renting the pool during the 10-week period for which Hannah andKathleen would need it is $1,700. The pool would also charge Hannah and Kathleen an admis-sion, towel service, and life guarding fee of $7 per pupil, and Hannah and Kathleen estimate anadditional $5 cost per student to hire several assistants. Hannah and Kathleen plan to charge $75per student for the 10-week swimming class.a. How many pupils do Hannah and Kathleen need to enroll in their class to break even?b. If Hannah and Kathleen want to make a profit of $5,000 for the summer, how many pupils dothey need to enroll?c. Hannah and Kathleen estimate that they might not be able to enroll more than 60 pupils. Ifthey enroll this many pupils, how much would they need to charge per pupil to realize theirprofit goal of $5,000?

Breakeven point = Fixed cost / Contribution margin Contribution margin = Selling price - Variable…

Answered: Hannah Byers and Kathleen Taylor are…

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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explain discrete -event simulation model with example.
Cheryl Druehl Retailers, Inc., must decide whether to build a small or a large facility at a new location in Fairfax. Demand at the location will either be low or high, with probabilities 0.6 and 0.4, respectively. If Cheryl builds a small facility and demand proves to be high, she then has the option of expanding the facility. If a small facility is built and demand proves to be high, and then the retailer expands the facility, the payoff is $290,000. If a small facility is built and demand proves to be high, but Cheryl then decides not to expand the facility, the payoff is $253,000. If a small facility is built and demand proves to be low, then there is no option to expand and the payoff is $220,000. If a large facility is built and demand proves to be low, Cheryl then has the option of stimulating demand through local advertising. If she does not exercise this option, then the payoff is $35,000. If she does exercise the advertising option, then the response to advertising will…
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