Question

In: Statistics and Probability

The following is an Excel question: Concert tickets are priced as follows: Ticket Costs (Age Group)...

The following is an Excel question:

Concert tickets are priced as follows:

Ticket Costs (Age Group)
Ticket Location Category 22 and under over 22
Premier tickets $65 $90
Floor tickets $50 $70
Balcony tickets $30 $30
Standing Room $15 $20

(a) Create a model that allows a person to enter his/her age and the preferred ticket location (Premier, Floor, Balcony, Standing Room) and automatically gives the price of the ticket. Use a lookup table. You may use data validation for ticket location.

(b) Create 2 test cases to demonstrate the solution.

Show ALL FORMULAS used in getting the answer.

Solutions

Expert Solution

Here is the model:

The inputs are:

Two Examples are:

First:

Second:

Data Validation for Preferred Ticket Location:

Please do upvote if you are satisfied! Let me know in the comments if anything is not clear. I will reply ASAP!


Related Solutions

You are manager of a ticket agency that sells concert tickets. You assume that people will...
You are manager of a ticket agency that sells concert tickets. You assume that people will call 4 times in an attempt to buy tickets and then give up. Each telephone ticket agent is available to receive a call with probability 0.25. If all agents are busy when someone calls, the caller hears a busy signal. Find n, the minimum number of agents that you have to hire to meet your goal of serving 95% of the customers calling to...
1. Which of the following are factors that can shift the supply curve for concert tickets?...
1. Which of the following are factors that can shift the supply curve for concert tickets? a wage increase for musicians a cut in personal income taxes a new sound system for concert halls a subsidy for concert providers the price of substitutes for concerts a. I, II, and V only b. I, III, and IV only c. I, III, and V only d. II, IV, and V only e. I, III, IV, and V only 2. Given a normal...
1. Suppose a raffle costs $4 to buy a ticket. there are 100 tickets and you buy one ticket. what is your expected winning if the following prizes are awarded:
  1. Suppose a raffle costs $4 to buy a ticket. there are 100 tickets and you buy one ticket. what is your expected winning if the following prizes are awarded: one first prize: $80 two second prizes of $40 twenty third prizes of $8 2. a student estimates that for each question of a ten question true/false test, he has about a 75% chance of getting the answer right. what are his chances of passing the test with a...
20. This question is about the market for air tickets. For each of the following separate...
20. This question is about the market for air tickets. For each of the following separate scenarios, draw a graph to show how the equilibrium price and equilibrium quantity will change. (a) Household income decreases (b) Oil price decreases (c) Price of train tickets decreases (d) Flight attendants protest for an increase in wages
Question 8 options: A person’s educational attainment and age group was collected by the U.S. Census...
Question 8 options: A person’s educational attainment and age group was collected by the U.S. Census Bureau in 1984 to see if age group and educational attainment are related. The counts in thousands are in following table ("Education by age," 2013): Table: Educational Attainment and Age Group Education Age Group Row Total 25-34 35-44 45-54 55-64 >64 Did not complete HS 5416 5030 5777 7606 13746 37575 Competed HS 16431 1855 9435 8795 7558 44074 College 1-3 years 8555 5576...
Question# 3 Suppose that business travellers and vacationers have the following demand for FlyAlee airline tickets...
Question# 3 Suppose that business travellers and vacationers have the following demand for FlyAlee airline tickets from Jeddah to Dammam. Price (SAR) Qd-Business Travel Qd- Vacation Travel 150 2100 1100 200 2000 800 250 1900 500 300 1800 200 As the price of tickets rises from SAR250 to SAR300, what is the price elasticity of demand for Business Travel (Show your workings) Vacation Travel (Show your workings) b. Why might vacationers have different elasticity than business travelers? Suppose the %...
Use the following linear regression equation regarding airline tickets to answer the question. (The dataset collected...
Use the following linear regression equation regarding airline tickets to answer the question. (The dataset collected for Distance was from 500 miles to 5,687 miles) Note: that Distance is the number of miles between the departure and arrival cities, and Price is the cost in dollars of an airline ticket. (a) Find the slope using the linear regression equation given to you above. Inter- pret the value that you got for the slope in the context of the problem. Predicted...
This is all one question: A theater uses the following table/sheet to manage ticket sales, which...
This is all one question: A theater uses the following table/sheet to manage ticket sales, which turned out to be a very bad practice. The manager of theater hires you to design a database to manage the ticket sale information.    TICKET-SALES (InvoiceNumber, CustomerID, ShowTitle, SeatType, SeatLocation, TicketPrice, CustomerName, CustomerCell, ShowTime, Director_of_Show) Note: A customer can purchase multiple seats in one order (with one InvoiceNumber). It is also the common sense that the price of a ticket/seat depends on the show,...
The following table represents the numbers of employees, by age group, who were promoted or not...
The following table represents the numbers of employees, by age group, who were promoted or not promoted in a sample of restaurants in last year. Using a 0.01 significance level, can you conclude that the people in some age groups are more likely to be promoted than those in other age groups? Age Under 30 30-39 40-49 50 and Over Promoted 89.0 77.0 102.0 63.0 Not Promoted 99.0 110.0 65.0 70.0 A) Calculate the table of expected values? Circle the...
do a presentation on the growth and development of each age group, discussing the following major...
do a presentation on the growth and development of each age group, discussing the following major developmental task according to Erikson. Summarize the accepted norms in • Physical • Psychosocial • Motor and language • cognitive growth and development.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT