Seeking Help from my Group Regarding My HS Reunion!

[Kathryn Ciccolini BSN, RN, OCN]

Hi Everyone,

I figured I could come to the group for help with a "business decision" I have to make in regards to an event I am heading for my high school (10 year reunion) next year. 

We are committing to 50 people (but hoping that 75-100 show)

Cost

$250 charge for room + $100 deposit = $350

$26/plate x 50 people = $1300

1300+350 = $1650

Approx 26% Fee + Tax = $429 (estimated)

1650+429 = $2079 total. 

Income

600 (what we currently have in the account)

$2079 / 50 = $41.58 per person for the night to cover food, room rental, down payment, and taxes/fees.

The group wants to charge 40/person and 60/couple for those that want to take advantage of this deal. I am trying to argue that this may not be a profit-maximizing decision. Do you think we should do the 40, 60 deal or charge a higher flat rate for everyone? I feel like this could be related to our cost chart?? I started making one tonight on excel and I believe the fixed costs are $350 (room charge/deposit), but couldn't figure out what the variable costs were. 

Would love to hear your take! This is what I do at 130am on a Monday night... find ways to tie microeconomics to life. Will this be for the rest of our lives?? lol jk

Thank you for your time in helping me out with this!

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Kathryn Ciccolini BSN, RN, OCN 

Memorial Sloan-Kettering Cancer Center | Young EPW-NYS Representative 
NYU Wagner MPA - Health Policy and Management Candidate 2016
Phone: (978) 870-2935 | LinkedIn | Email | Facebook

[Andres Martinez-Villalobos]

you disgust me

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Andres Martinez-Villalobos

Robert F. Wagner Graduate School of Public Service

International Policy Track Student

amv...@nyu.edu | (310) 694-2767

[Andres Martinez-Villalobos]

drink some wine!! Go to sleep! :) I am sure others will give you sound advice :p

[Kathryn Ciccolini RN, BSN]

Thanks Andre lol - I love to disgust you. See u all tonight 

[Andres Martinez-Villalobos]

sorry, but I do have an idea about asymmetric information and your conundrum :)

[Andres Martinez-Villalobos]

hey guys, know we had talked about getting Beck a gift, I think I found something, I distinctly remember her telling us in class how much she LOVES beer, so why not this?

http://store.theonion.com/p-4737-assorted-headlines-pint-glasses.aspxhttp://store.theonion.com/p-4737-assorted-headlines-pint-glasses.aspx

[Kathryn Ciccolini BSN, RN, OCN]

Aww this is nice! Only because of the price I am iffy... I don't mind putting in for this, but others may. I was thinking of just getting her a card to save everyone on expense. However, if everyone wants to chip in for this gift- I'm down!!!

[Andres Martinez-Villalobos]

I'm down to put in 5 bucks, if everyone chips in that much I think it's like 4 bucks if everyone does tho

[Kara Ann Noesner]

I love beer too. Count me in. Thanks for organizing. Kara