Exhibit 2-1 a T-Shirt Company Is Planning a Production Run for an for an Event

question 28

Essay

Exhibit 2-1
A t-shirt company is planning a production run for an event where the attendance (and thus demand for t-shirts) is uncertain. The event planners have indicated that they think the attendance will be 500, 750 or 1000, with probabilities of 30%, 50% and 20% respectively. The company must pre-order the blank t-shirts (cost=$5 per shirt) and it can sell finished shirts for $12 apiece. Any finished shirts that cannot be sold at the event can be sold for $2 apiece to a used clothing vendor.
-Refer to Exhibit 2-1.What Excel function is useful for calculating revenue
Explain why it is useful.

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Definitions:

Self-Esteem

The beliefs we have about our own worth following the self-evaluation process.

Cheerfulness

A state of being visibly happy, positive, and showing a bright outlook.

Emotional Labor

The process of managing one’s feelings to present positive emotions even when they are contrary to one’s actual feelings.

Display Rules

Basic norms that govern which emotions should be displayed and which should be suppressed.