For the nonprofit ballet company in Problem 11 of Chapter 11
Question # 00495891
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Updated on: 03/06/2017 02:37 AM Due on: 03/06/2017
For the nonprofit ballet company in Problem 11 of Chapter 11, assume following percentages of donors and gift levels:
| Gift Level | Amount | # of GIfts |
| Benefactor | $10,000.00 | 1 - 3 |
| Philantropist | $5,000.00 | 3 - 7 |
| Producer's Circle | $1,000.00 | 16 - 25 |
| Director's Circle | $500.00 | 31 - 40 |
| Principal | $100.00 | 5–7% of solicitations |
| Soloist | $50.00 | 5–7% of solicitations |
The company has set a financial goal of $150,000. How many prospective donors must they contact for donations at the $100 level or below to have a 95% chance of meeting this goal? Assume that the num- ber of gifts at each level follow a discrete uniform distribution or a uniform distribution for the percent- age of solicitations at the $100 and $50 levels.
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Solution: For the nonprofit ballet company in Problem 11 of Chapter 11