The Schoch Museum is embarking on a 5-year fundraising campaign. As a nonprofit

Question

The Schoch Museum is embarking on a 5-year fundraising campaign. As a nonprofit institution, the museum finds it challenging to acquire new donors as many donors do not contribute every year. Suppose that the museum has identified a pool of 8,000 potential donors. The actual number of donors in the first year of the campaign is estimated to be 65% of this pool. For each subsequent year, the museum expects that 35% of current donors will discontinue their contributions. In addition, the museum expects to attract some percentage of new donors. This is assumed to be 10% of the pool. The average contribution in the first year is assumed to be $50, and will increase at a rate of 2.5%. Develop a model to predict the total funds that will be raised over the 5-year period, and investigate the impacts of the percentage assumptions used in the model. Find distribution of revenue, costs, and profit. Use data tables with 250 trials.

Explanation / Answer

A plurality opinion announces the decision of the court but fails to get a majority of the justices to support the legal reasoning. When no single opinion gets majority support, the decision that gets the most votes and supports the majority outcome becomes the plurality opinion. Since the legal reasoning is not adopted by a majority of the justices, it is less reliable as legal precedent.

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