MCC Fundraising ReportPrepared by – William Wilbanks

Relevant Information

Target Market - Current MCC students

Data collection process

• Data was collected by interviewing 100 current MCC students and recording their responses to the following question “How much would you be willing to pay for a T-shirt supporting the student Senate: $20, $18, $16, $14, $12, $10, $8, or not interested?”.

• Data was collected from multiple different locations around the school at multiple different times to ensure accuracy of data and allow for a more representative sample.

Data interpretation process

The data collected for the 100 students interviewed was used to determine the demand for the entire student body, approximately 11,000 students at different price points.

Means by which data was calculated

Formula used for total population (y = -4E-11x3 + 6E-07x2 - 0.0038x + 19.661)

Formula used for students surveyed (y = -5E-05x3 + 0.0074x2 - 0.4154x + 19.661)

The formula used is a polynomial function with a order of 3. This formula was generated by plugging in the data collected into Microsoft excel. The reason this formula was used is because it most accurately represents our demand curve.

• Y - Price• X – Quantity Demanded• To find quantity demanded, set Y equal to the price in question and solve for X.

R² = 0.9968• The R² value represents accuracy. Perfect accuracy would be represented as R² = 1. • In our case R² = 0.9971 meaning our data is extremely accurate, but not perfect.

Data collection process

Means by which data was collected

• Data was collected by interviewing students who attend MCC and recording their responses.

• The form used to collect data is located to the right.

Data represented visually

The Numbers

How to interpret data

Quantity represents number of students surveyed willing to purchase at indicated price point. Taking that number and dividing it by 100 we get the percent surveyed willing to purchase at indicated price point. Multiplying the percent surveyed at a given price point by the total number of students, approximately 11,000 we get the total number of units demanded at a given price point.

Quantity Accumulate Price Percent MCC Total Price0 0 $20 0 0 $203 3 $18 0.03 330 $188 11 $16 0.11 1210 $169 20 $14 0.2 2200 $1415 35 $12 0.35 3850 $1234 69 $10 0.69 7590 $1014 83 $8 0.83 9130 $817 17 N.I. 0.17 N.I.

Total Surveyed Total Population 100 11,000

Data represented visually

The TrendHow to interpret data

The Y axis represents price (USD). The X axis represents the number of students willing to purchase.

Percentage of students surveyed willing to buy, accumulated at specific price points then multiplied by total population (approximately 11,000).

$20 (0) / $18 (330) / $16 (1210) / $14 (2200) / $12 (3590) / $10 (7590) / $8 (9130)

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0$0

$5

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Total School Population

STUDENTS WILLING TO BUY

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0 10 20 30 40 50 60 70 80 90$0

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Students Surveyed

STUDENTS WILLING TO BUYP

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How to interpret data

The Y axis represents price (USD). The X axis represents the number of students willing to purchase.

Accumulated number of students surveyed willing to buy at specific price points.

$20 (0) / $18 (3) / $16 (11) / $14 (20) / $12 (35) / $10 (69) / $8 (83)

Conclusion

• The total number of students willing to purchase T-shirts is 9,130 or (89%) at $8 (USD).

• The total number of students that were not interested in purchasing a T-shirt is approximately 1,870 or (17%).

• Total Revenue (total demanded multiplied by price) $8 multiplied by 9,130 = $73,040 (USD) in estimated sales.

• Total Cost (estimated cost multiplied by total demanded) $6 multiplied by 9,130 = $54,780 (USD) in estimated cost.

• Total Profit (revenue minus estimated cost) $73,040 - $54,780 = $18,260 (USD) in estimated profit.

The Findings