I need to create a mathematical model to find the expected profit:
A band wants to hold a concert with an expected crowd of 3,000. The average spending on concessions is $15, tickets sell for $10. The profit is 80% at the gate, along with concession sales, minus a fixed cost of $10,000.
This solution, in Excel, allows the user to input Expected Sales and factor in Additional Sales, Purchase Price, Profit Expectation, and Fixed costs to determine Expected Profit. The Excel solution also has detailed instruction for each conclusion to allow the reader to understand the logic and conclusions made to determine the Expected Profit.