Question: 1. Write down the Excel formula that selects a number randomly from the set {1,2,3,..,200}, such that each number in the set has the same

1. Write down the Excel formula that selects a number randomly from the set {1,2,3,..,200}, such that each number in the set has the same probability of being selected.

2. Suppose you have a quantity Q of items to sell, and demand D is random. Write down an Excel formula in terms of Q and D for the quantity that you will actually sell.

3. Name the Excel simulation tool that allows you to tabulate the average profit corresponding to each of 10 different order quantities you might choose.

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