Project Type	Frequency	Project Time (Uniform Distribution)
Minor, s1	0.3	0.5 to 3.0 hours
Small,s2	0.35	3 to 10 hours
Medium,s3	0.2	10 to 25 hours
Large,s4	0.1	25 to 35 hours
Major,s5	0.05	35 to 50 hours

Number of Projects Per Week	(Decision Alternatives) Discrete Probability
	Consulting fee at $50/hour (d1)	Consulting Fee at $60/hour (d2)	Consulting Fee at $70/hour (d3)
				0	0.04	0.08	0.13
1	0.07	0.08	0.13
2	0.10	0.11	0.17
3	0.15	0.16	0.24
4	0.21	0.2	0.15
5	0.15	0.16	0.08
6	0.10	0.08	0.04
7	0.07	0.06	0.03
8	0.05	0.04	0.02
9	0.06	0.03	0.01

Monthly expenses are estimated to be $2300, and your team would like to have an annual income (before tax) at least $75,000. Determine the potential profitability of this business if the hourly consulting rates charged are $50, $60, or $70. Use Excel to build a Monte Carlo simulation model to solve this profitability problem. How can I solve this for profitability? What equation should I use?