# 3 data sets with 15 questions

For each data set they’re are different questions, listed below, that need to be answered, please show all your work on the worksheets for each data set

Build a demand function based solely on ‘Ticket Price in \$’ (x) and a total cost function based solely on demand (see Dataset_1). Provide the following information:

Build a profit function that estimates Tanner Park’s profit based on your demand and cost functions. Determine the ‘total profit in \$’ if the company decides to increase the current ticket price (6/30/2018) by 4%

How confident are you in your profit estimation? Do you see ways to improve the quality (predictive power) of your cost or demand function? If yes, please describe your idea below:

Assume that your team estimated the cost and demand functions provided below. Determine the ‘total profit in \$’ if the company decides to increase the current ticket price (6/30/2018) by 8%.

Your team is particularly interested in the profitability of the company over ticket price range provided below. Compute the profit of Tanner Park using your team’s cost and demand functions (see 4).

Determine the ticket price that maximizes Tanner Park’s profit (round up to one decimal place).

After some research, you found a dataset of another amusement park that launched a similar marketing strategy a few years ago (see Dataset_2). Build a demand function based on this information and provide the following information about your model:

Determine the ticket demand if the Tanner Park decides to price park tickets at \$23.06 and to spend \$7800 (per month) on the market campaign.

Compute the total profit (in \$) of Tanner Park based the provided cost structure of the park (see below). Assume that the variable cost is a function of ticket demand and the fixed cost are expenses that have to be paid by the park, independent of the demand and marketing activities.

Compute the profit of Tanner Park over the range of ‘Ticket Price in \$’ and ‘Marketing Spending in \$’ provided below:

Determine the ‘Ticket Price in \$’ and ‘Marketing Spending in \$’ that maximizes Tanner Park’s total profit within the given constraints (round up to one decimal place).

Build a spreadsheet model of the profit or loss (PnL) based on the number of nonmember registrants. What is the total profit for the full allotment of corporate members and …

Build a one way data table to find the number of nonmember registrants the program needs to break even.

The center is considering a refund policy for no-shows. No refund would be given for member who do not attend, but nonmembers who do not attend will be refunded 50% of the price. Extend the model from above to account for the 25% of registered members and 10% of registered non-members who do not attend. The Center pays for catering (breakfast and lunch) based on the number of registrants. Parking costs, on the other hand, is only incurred when a person attends. What is the total profit for the full allotment of corporate members and …

Build a two way data table to show how profit changes as a function of the number of registered nonmembers and the no-show percentage of nonmembers. Vary the number of nonmember registrants from 80 to 160 in increments of 10 and the percentage of nonmember no-shows from 10 to 30 percent in increments of 2.5%. Round up to whole numbers (nonmembers).