For the stockbroker situation in Problem 22, use the Goal Seek tool to find the number of calls needed to achieve a broker commission of $5,000.

Data from Problem 22

A stockbroker calls on potential clients from referrals. For each call, there is a 20% chance that the client will decide to invest with the stockbroker’s firm. Forty percent of those interested are found not to be qualified, based on the brokerage firm’s screening criteria. The remaining are qualified. Of these, half will invest an average of $5,000, 25% will invest an average of $20,000, 15% will invest an average of $50,000, and the remainder will invest $100,000. The commission schedule is as follows:  

Transaction Amount Up to $25,000 $25,001 to $75,000 $75,001 to $100,000 Commission $75 + 0.5% of the amount $100+ 0.4% of the amount $150+ 0.3% of the amount