Budgeting for an Event Keisha is planning an event for her company. It will take place the 3rd Saturday of May, and will be four hours long. There will be 35 employees at the event, and each can bring one guest. She must make arrangements for venue, décor, food, beverages and entertainment. She has a budget of $3,000. After researching available options, she has developed the following list of possible vendors.
Décor A: $300; Décor B: $500; Décor C: $750
Food A: $15 per person; Food B: $18 per person; Food C: $800
Beverage A: $3 per person; Beverage B: $5 per person; Beverage C: $500
Entertainment A: $16 per person; Entertainment B: $1,000; Entertainment C: $1,500
She now needs to decide what to buy and who to hire in order to stay under budget.
In order to further guard against going over budget, she has decided to leave herself 10 percent of the budget for a contingency fund. Assuming all vendors listed above are of similar quality, how should she decide among vendors? If her boss is not pleased by her initial choice, is there another under-budget combination of vendors
she can suggest?