Question: 3. You are considering purchasing an apartment complex. Before deciding, you would like to do a risk analysis of the situation to assess whether or

3. You are considering purchasing an apartment
3. You are considering purchasing an apartment complex. Before deciding, you would like to do a risk analysis of the situation to assess whether or not the investment is a good idea for you. The complex has 60 units. Historical data indicate that the number of units rented in a given month is distributed uniformly between 40 and 60 units.1 The rent per unit, which you are not likely to change since demand is extremely price sensitive, is $600 per month. Monthly expenses for the entire complex seem to be distributed normally with mean $17,000 and standard deviation $1,500. Develop a simulation for 1,000 trials (months). What is the expected monthly profit

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