1 Problem Sarah owns a bakery in Georgetown that specializes in selling fresh bread. She purchases...

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1 Problem Sarah owns a bakery in Georgetown that specializes in selling fresh bread. She purchases bread from a supplier at $2 per loaf and sells it at $4 per loaf. Any unsold bread at the end of the day is donated to a charity, incurring a fixed cost of $30 for transferring, irrespective of the number of unsold loaves. Sarah estimates that the demand for bread each day is a random variable following a uniform distribution ranging from 100 to 140 loaves. Given that Sarah orders 130 loaves on a Monday, answer the following questions: (i) What is the average daily demand for bread? (1 mark) (ii) How many loaves will be sold on Monday? (1 mark) (iii) How many loaves will be left over at the end of Monday's working hours? (1 mark) (iv) What will be the total profit for Monday? (1 mark) 2 Simulation Simulate the problem in Microsoft Excel 1000 times and answer the following questions. (i) What will be the average demand on Monday? (1 mark) (ii) On average, how many loaves will be sold on Monday? (1 mark) (iii) What will be the average number of leftover loaves at the end of Monday's working hours? (1 mark) (iv) What will be the average profit on Monday? (1 mark) (v) What is the minimum possible profit value, in the worst-case scenario, in June? (1 mark) (vi) What is the maximum possible profit value, in the best-case scenario, in June? (1 mark) 1 Problem Sarah owns a bakery in Georgetown that specializes in selling fresh bread. She purchases bread from a supplier at $2 per loaf and sells it at $4 per loaf. Any unsold bread at the end of the day is donated to a charity, incurring a fixed cost of $30 for transferring, irrespective of the number of unsold loaves. Sarah estimates that the demand for bread each day is a random variable following a uniform distribution ranging from 100 to 140 loaves. Given that Sarah orders 130 loaves on a Monday, answer the following questions: (i) What is the average daily demand for bread? (1 mark) (ii) How many loaves will be sold on Monday? (1 mark) (iii) How many loaves will be left over at the end of Monday's working hours? (1 mark) (iv) What will be the total profit for Monday? (1 mark) 2 Simulation Simulate the problem in Microsoft Excel 1000 times and answer the following questions. (i) What will be the average demand on Monday? (1 mark) (ii) On average, how many loaves will be sold on Monday? (1 mark) (iii) What will be the average number of leftover loaves at the end of Monday's working hours? (1 mark) (iv) What will be the average profit on Monday? (1 mark) (v) What is the minimum possible profit value, in the worst-case scenario, in June? (1 mark) (vi) What is the maximum possible profit value, in the best-case scenario, in June? (1 mark)