Mathematics, 21.04.2020 17:24, dianekobasher
To generate new leads for business, Gustin Investment Services offers free financial planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 individuals. Each seminar costs Gustin $3500, and the average first-year commission for each new account opened is $5000. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account.
a. Determine the equation for computing Gustin's profit per seminar, given values of the relevant parameters.
b. What type of random variable is the number of new accounts opened?
c. Construct a spreadsheet simulation model to analyze the profitability of Gustin's seminars. Would you recommend that Gustin continue running the seminars?
d. How large of an audience does Gustin need before a seminar's expected profit is greater than zero?
Answers: 2
Mathematics, 21.06.2019 17:30, grangian06
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Mathematics, 21.06.2019 19:50, JS28boss
The probability that a student graduating from suburban state university has student loans to pay off after graduation is .60. if two students are randomly selected from this university, what is the probability that neither of them has student loans to pay off after graduation?
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To generate new leads for business, Gustin Investment Services offers free financial planning semina...
Mathematics, 02.03.2020 23:29