## University of Wyoming Menâ€™s Basketball Team Case Solution

Answer # 03:Â Â Â Â Â Â Â

In order to develop a simulation model to predict the overall revenues for the 16 games by taking teams win percentage as one variable. It can be shown below:

It can be seen in the model that the winning percentage for the basket ball team is approximately 61.9%. By using this percentage is the total revenue would enlarge to \$48378 by charging the price of \$ 164 for the year 2011. The results of the simulation are shown in the table below:

 SIMULATION MODEL Total Number of Games Winning Percentage 16 62% Number of Books Unit Price Highest Ticket Sold 4120 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  164 Lowest Ticket Sold 3819 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  12 Total Profit Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  721,508 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  721,508 50% 62% 70% Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  164.00 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  47,888 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  48,378 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  48,712

In forecasting the total revenues from the season with the help of some assumptions, the following results are revealed:

By using a winning percentage of about 50%, then the total revenue would be decreased from the actual, it would generate only around \$ 47888 which is lower than the revenue of \$ 48378 that could be generated at a winning percentage of 61.9%. The revenue of the team is also dependent upon the performance of the team as shown by the winning percentage of the UW teamâ€™s basket ball team. If for instance, the team starts underperforming, then the sales of the tickets would be reduced significantly thereby reducing the total revenue for the University of Wyoming.

 SIMULATION MODEL Â Â Â Â Â Total Number of Games Winning Percentage Â Â 16 50% Â Â Â Â Â Â Â Number of Books Unit Price Â Highest Ticket Sold 4120 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  164 Â Lowest Ticket Sold 3819 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  12 Â Â Â Â Â Â Total Profit Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â  721,508 Â Â Â Â Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  721,508 40% 50% 60% Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  164 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  47,476 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  47,888 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  48,300

By using the random win percentage, the effect of the winning percentage in each of the four cases is summarized in the table below:

It shows that by reducing the winning percentage, the overall revenue of the team would also reduce whereas on the other hand if there is an increase in the winning percentage, then the sale of the tickets would increase which will have a positive impact upon the revenues and the revenue would be increased significantly.

 SIMULATION MODEL Total Number of Games Winning Percentage 16 50% Number of Books Unit Price Highest Ticket Sold 4120 Â \$Â Â Â Â Â Â Â Â Â Â Â  164 Lowest Ticket Sold 3819 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â  12 Total Profit Â \$Â Â Â  721,508 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  46,808 63% 41% 0% Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  164 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  46,839 Â \$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  48,964 Â \$Â Â Â Â Â  46,808

………………..

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