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

Solutions

Expert Solution

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

Thanks !!

milcah answered 8 months ago

Next > < Previous

Related Solutions

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

Justin Company is in the process of preparing its budget for next year. Cost of goods...

Justin Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 60 percent of sales. Merchandise purchases are to be made during the month preceding the month of the sales. Button pays 60 percent in the month of purchase and 40 percent in the month following. Wages are estimated at 20 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of...

Company is in the process of preparing its budget for next year. Cost of goods sold...

Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 60 percent of sales. Merchandise purchases are to be made during the month preceding the month of the sales. Button pays 60 percent in the month of purchase and 40 percent in the month following. Wages are estimated at 20 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales...

Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost...

Cash Disbursement Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale....

XYZ Football Club is a small professional football team owned by Singh Corporation. On the worksheet...

XYZ Football Club is a small professional football team owned by Singh Corporation. On the worksheet tab are the November 30, 2019, account balances of XYZ Football as of November 30, 2019. The revenue and expense account balances represent the results of transactions recorded during the first 11 months of 2018. XYZ currently has 7,000 shares of stock. All income tax effects are to be ignored for this project. On November 30, 2019, XYZ Football ledger showed the following accounts:...

Future value. The Portland Stallions professional football team is looking at its future revenue stream from...

Future value. The Portland Stallions professional football team is looking at its future revenue stream from ticket sales. Currently, a season package costs $300 per seat. The season ticket holders have been promised this same rate for the next four years. Five years from now the organization will raise season ticket prices based on the estimated inflation rate of 3%. What will the season tickets sell for in five years? $:

A Landscaping Inc. is preparing its budget for the first months of 2019. The next step...

A Landscaping Inc. is preparing its budget for the first months of 2019. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. 10% of all sales are for Cash. Credit customers usually pay 20% of their fee in the month that service is provided, 60% the month after, 18% the second month after receiving service. The remaining 2% is written off...

Scenario: A team owner has threatened to move her professional football team from your city to...

Scenario: A team owner has threatened to move her professional football team from your city to another city if you do not build a new stadium. As mayor of the city, you need to figure out whether it is worth raising the money through public sources (e.g., bonds, taxes) to keep the team or whether it is not worth the money to keep the team in the area. Using the information in chapter 11 on capital budgeting, write a five-page...

Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step...

Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2016 and expected service revenues for 2017 are November...

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step...

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November...

Subjects