Question: 1 . ( 5 0 points ) In class lecture, we developed a simple spreadsheet model for computing profit in Excel. Use this profit model
points In class lecture, we developed a simple spreadsheet model for computing profit in Excel. Use this profit model to implement a financial simulation model for a new product proposal and determine a distribution of profits using the distribution below for the demand, unit cost, and fixed cost. Price is fixed at $ Demand is unknown and follows a normal distribution with a mean of and a standard deviation of Fixed costs are uniformly distributed between $ and $ Unit costs are also variable and follow the following distribution:
Unit Cost
Probability
$
$
$
$
Simulate this model for trials and a production quantity of What is the average profit and what is the standard deviation of profit?
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