Please help me Solve (c) with Round answer to two decimal places, and explain how to solve it.

VA F21 ISDS361B HW6 (Ch11) - ISDS X MindTap - Cengage Learning X Google Dich X C Get Homework Help With Chegg X + X CO webassign.net/web/Student/Assignment-Responses/submit?pos=2&dep=26569498&tags=autosave#question4618461_2 F.+ : Apps M Gmail Maps A Leading CSU | Cal... MGMT 340 . ISDS 361B WP ACCT 301A Spectrum.net Hom... Rate My Professors Google Dich C Chegg - Save up to... Shuumatsu Nani S... Reading list 3. [0.36/0.41 Points] DETAILS PREVIOUS ANSWERS CAMMBA4 11.E.009. MY NOTES PRACTICE ANOTHER To generate leads for new 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 $3,700, and the commission for each new account opened is $5,200. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she will open a new account. (a) Determine the equation for computing Gustin's profit per seminar, given static values of the relevant parameters. Profit = (New Accounts Opened x 5,200 * ) - 3,700 (b) What type of random variable is the number of new accounts opened? (Hint: Review Appendix 11.1 for descriptions of various types of probability distributions.) O normal random variable O uniform random variable O poisson random variable binomial random variable O hypergeometric random variable (c) Construct a simulation model to analyze the profitability of Gustin's seminars. Would you recommend that Gustin continue running the seminars? (Use at least 1,000 trials. Round your answer to two decimal places.) From the simulation, we estimate that on average one of these seminars results in a |loss vy of$ x , so Gustin should not v . continue running the seminars. (d) What is the minimum number of attendees (in a multiple of five, i.e., 25, 30, 35, ...) that Gustin needs before a seminar's average profit is greater than zero? 70 attendees Need Help? Read It Submit Answer Type here to search O X 100% " 2:09 PM 11/6/2021