Consider the Reliable Construction Co. bidding problem discussed in Sec. 28.1. The spreadsheet model is available on this website. The parameter analysis report generated in Sec. 28.7 (see Fig. 28.31) for this problem suggests that $5.4 million is the best bid, but this table only considered bids that were a multiple of $0.2 million.
(a) Refine the search by generating a parameter analysis report for this bidding problem that considers all bids between $5.2 million and $5.6 million in multiples of $0.05 million.
(b) Use ASPE€™s Solver to search for the bid that maximizes Reliable Construction Co.€™s mean profit. Assume that the bid may be any value between $4.8 million and $5.8 million.
In Figure 28.31

OurBid 4.8 5.0 5.2 5.4 5.6 5.8 Mean 0.188 0.356 0.472 0.482 0.257 0.024