To generate leads for new business, Gustin Investment Services offers free financial planning seminars at major hotels
Question:
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?
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Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
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