To generate leads for new business, Gustin fnvestment Services offers free financlal planning seminars at major hotels in Southwest Florida. Gustin conducts seminars for groups of 25 Individual's: Each seminar costs Gustin $3100, and the average first-year commission for each new account opened is $4600. Gustin estimates that for each individual attending the seminar, there is a 0.01 probability that he/she wal open a new account. a. Determine the equation for computing Gustin's profit per seminar, glven values of the relevant parameters, Round your answers to the nearest dollar. Profit=(NewMccountsOpenedx+5 b. What type of random variable is the number of new accounts opened? (Hint: Review Appendix 16.1 for descriptions of various types of probability distributions.) The number of new accounts opened is a random vartable with trits and probability of a success on a single trat. c. Assume that the number of new sccouts you get randomly is: Simulation Trial New Accounts 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 0 0 0 1 1 0 1 0 0 0 1 0 1 0 0 1. 0 1 0 0 0 0 1 0 2 Construct a spreadsheet simulation model to analyze the profitabiity of Gustin's seminars, fround the answer for the expected profit to the nearest dollar. Round the answer for the probability of a loss to 2 decimal places. The expected proft from a seminar is 5 and there is a probabality of a loss. Would you recommend that Gustin continue runhing the seminars? Gustin The seminars in their current format. d. How large of an audience does Gustin need before a seminor's expected proft is greater than zero? Use Trial-and-error method to answer the question, Round your answer to the nearest whole number. attendees