Reference no: EM133132659

Case Study #1-Read the scenario and use only the information below to answer the questions.It's your last year of high school and you have been asked to organize the annual senior party thattakes place in your school's gym. Last year, the price was $15 per person and460 studentsattended. You plan to charge the same price this year and expect the same number of students toshow up. Below is the cost of different booths that you can have at the party. The ones with anasterisk (*) are larger and require 20% of the area in the gym. The other booths are smaller andrequire only 5% of the gym. It's your job to pick which booths to have at the party.Casino* $4000Full buffet* $5000Laser tag* $1000Sumo wrestling* $500Climbing wall $2000Giant slide* $500Magician* $1500Taco bar $2000DJ/Music* $3000Henna tattoos $200Sandwich bar $800VR games* $500Face paint $200Hypnotist* $1500Soda fountain $200Water coolers $1001. What is your budget? How much can you spend on booths?