3 (Scenario Manager for Newsvendor Problem 12 points): Create a model to calculate the profits for a company making this product. The formula for profits is:

Profits = revenue fixed costs variable costs

Revenue = unit price * units sold

Variable costs = unit cost * quantity produced

Units sold (you need to figure out for yourself)

Unit price $60

Unit cost $35

Fixed cost $550,000

Quantity produced 60,000

Uncertain Demand

Case Probability Quantity

Recession 0.1 35,000

Poor growth 0.2 45,000

Base-case 0.4 55,000

Lucky 0.2 65,000

Boom 0.1 75,000

Using Scenario Manager, create a scenario summary of the demand quantity and profits. You will not receive full credit unless I see a single scenario summary report is generated by scenario manager. Please show detailed excel steps