A concert venue wants to project profit from sales of souvenirs at the upcoming weekend concert. Based on past data, 65% of patrons will buy at least one souvenir. The attendance of the event is expected to be 14,600 patrons. If the venue typical earns $20 from the sale of each souvenir and the company donates 30% of its proceeds to local charities, what is its expected amount the company earns as profit?

Answer:$132,860Step-by-step explanation:The attendance of the event is expected to be 14,600 patrons.Based on past data, 65% of patrons will buy at least one souvenir.Therefore at least:0.65 X 14600 =9490 patrons will buy at least one souvenir.Each Sourvenir costs $20Total Least Expected Income = 9490 X $20 =$189,800Since the company donates 30% to local charities,Expected Profit= $189,800 - (30% of $189,800) = $189,800-56940=$132,860