Reference no: EM131450274
Solutions to Application Exercisespages 220 & 221
7-17. Excel Application: Analyzing Revenue and Expenses for City Hospital Seminars
Figure 7-25 shows the Excel spreadsheet that Bora uses to evaluate the variables relating to the hospital seminar series.She has asked you to use Excel to create a similar spreadsheet to conduct additional what-if and goal seek analyses.You will need to use the following formulas:
Figure 7-25
The hospital seminar series data.
Revenue:
Registration Fees = Attendees per seminar × Registration fee × Seminars per year
Parking Fees = (Attendees per seminar / Average number attendees per car) × Seminars per year × Parking fee
Expenses:
Speakers' Fees = Speaker's fee per session × Seminars per year
Tech support = Tech support cost per session × Seminars per year
Marketing = Marketing cost per seminar × Seminars per year
Room rental = Room rental per seminar × Seminars per year
(Please note: the example in your textbook and in the original EXCEL file had the average # of attendees per car at 2.5 which Excel displays as rounded up to 3! But you can't really have half a person - so we changed it to 3 whole people which changes the Parking Fees to $800.That is what you will find in the preloaded Excel file for chapter 7 in your course.)
What-If Questions
1. What would be the impact on net profit if the average attendance per seminar increased to 45?
Profit will increase to $6,000 if average attendance per seminar is increased to 45.
2. What would be the impact on net profit if the average attendance dropped to 35?
Profit will decrease to $1,600 if average attendance dropped to 35.
3. What would be the impact on net profit if parking fee is reduced to $3?
Profit will decrease to $3,480 if the parking fee is reduced to $3.
4. What would be the impact on net profit if the speaker's fee increased to $550 per seminar?
Profit will decrease to $3,200 if the speaker's fee is increased to $550 per seminar.
5. What would be the impact on net profit of increasing the marketing expense per seminar to $350, resulting in an increase in average attendance per seminar to 50?
Profit will increase to $7,000 if marketing expenses increase to $350 per seminar and attendance increases to 50 attendees per seminar.
6. What would be the impact on net profit of an increase in room rental per seminar to $300?
Profit will decrease to $3,200 if room rental per seminar increases to $300.
7. If Bora can negotiate a room rental fee of $160 per seminar, how much will net profit increase?
Profit will increase to $4,880 if the room rental fee is decreased to $160 per seminar.
8. If technical support cost is zero, because it is included in the room rental per seminar, what is net profit?
Profit will increase to $5,600 if technical support is included in the room rental per seminar.
Goal Seek QuestionsThese are with the $800 parking fees and the 3 whole persons per car!
1. Given the expenses and variables presented in the figure, how many attendees per seminar are required to generate a net profit of $5,500?
Given the expenses and variables as presented, it requires 44 (actually it's 43.8636363636364, but goal seek will figure that out for you) attendees per seminar to generate net profit of $5,500.
2. What parking fee results in a net profit of $4,150?
A parking fee of $7.1875 (rounded up to $7.19) results in a net profit of $4,150.
3. What registration fee per attendee results in a net profit of $5,750?
A registration fee of $39 (rounded down from $39.0625) per attendee results in a net profit of $5,750.
7-18. Access Application: Marketing City Hospital Seminars
Download the City Hospital database,Ch07Ex02. Write a query that sorts registrants by the type of seminar they have attended.
Include the session date as well as attendee information.Modify the query to identify registrants who attended a Knee Replacement seminar.Use the report wizard to create a report that lists the session dates and the names and phone numbers of those who have attended Knee Replacement seminars.
This report serves as a "patient contact sheet" that hospital staff will use to call previous attendees to invite them to attend the new seminar.How many patients are listed on the report?
Review the attendees table.Is there additional patientinformation the hospital could collect that may be useful for future marketing campaigns?
Students should download the Access database named Ch07Ex02.accdband create a query that sorts registrants by seminar type. The query should include the session date and the attendee information.
Students should modify the query to list only the individuals who attended a Knee Replacement seminar, and use the query to create a "Patient Contact" report that lists 12 patients. Answers will vary regarding other types of information that may be useful for future marketing campaigns. Suggestions may include attendee e-mail address or referral information.
https://www.dropbox.com/s/46zrs5ayknym681/excel_-solutions.rar?dl=0