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The Goal Seek Command

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I am managing a conference at my college. My fixed costs are $15,000. I must pay the 10 speakers $700 each, and the college union $300 per conference participant for food and lodging costs. I am charging each conference participant who is not also a speaker $900, which includes the conference fee and their food and lodging costs. How many paid registrants need to attend for me to break even?

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Solution Summary

This solution of 295 words calculates the break-even point for a conference, taking into account fixed costs, speaker costs, food and lodging costs. All steps and formulas are shown in an Excel file.

Solution Preview

Please see the attached Excel sheet as well as the explanation below, and let me know if you have questions.

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The idea of this problem is to equate costs to revenues. There is one variable: the number of paying (non-speaker) participants. By varying the number of paying participants, we can find the number necessary to make costs equal revenues -- or in other words, to break even.

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