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A professional football team is preparing its budget for the next year. One component of the...

A professional football team is preparing its budget for the next year. One component of the budget is the revenue that they can expect from ticket sales. The home venue, Dylan Stadium, has five different seating zones with different prices. Key information is given below. The demands are all assumed to be normally distributed. Seating Zone Seats Available Ticket Price Mean Demand Standard Deviation First Level Sideline 15,000 $1000.00 14,500 750 Second Level 5,000 $90.00 4,750 500 First Level End Zone 10,000 $80.00 9,000 1,250 Third Level Sideline 21,000 $70.00 17,000 2,500 Third Level End Zone 14,000 $60.00 8,000 3,000 Determine the distribution of total revenue under these assumptions using 250 trials. Summarize the statistical results. The question is from following book and from Chapter 12 question 17 Textbook: James Evans, Business Analytics, 3nd edition, 2019, Pearson Education, Pearson. ISBN: 13:978-0-13-523167-8

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Expert Solution

The summary measures have been done by the descriptive statisticsl method add on in Excel.

Thanks !!

milcah answered 1 year ago
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