1. (30 pts) Develop an Excel worksheet simulation for the following problem. The management of BJ Manufacturing Company is considering the introduction of a new product. The fixed cost to begin the production of the product is P30,000. The variable cost for the product is uniformly distributed between P16 and P24 per unit. The product will sell for P50 per unit. Demand for the product is best described by a normal probability distribution with a mean of 1,200 units and a standard deviation of 300 units. Use 500 simulation trials to answer the following questions: a) What is the mean profit for the simulation? b) What is the probability that the project will result in a loss? c) What is your recommendation concerning the introduction of the product