A project team is currently finalizing the total budget for a construction project with five deliverables A,B,C,D, and E. The cost for A, B, C are fixed since it is outsourcing those to a contractor. However, the budget number for D and E are yet to be determined. After an extensive discussion with the executive team members, the project team has obtained three number estimates on the last two activities. All the parameters are presented in the table below. 1) Since two out of five parameters are not fixed numbers, it is not feasible to come up with a single number to be reported as the total budget. What is the alternative approach in reporting the budget in this case? 2) Please set up a Monte Carlo simulation by using the RealStatistics add-in generated random numbers. Please generate 2,000 simulated incidences. Then, answer the following questions. a. Please calculate the budget variability on each activity. (That is, find out the standard deviation on each activity, including A, B, C. Some activities may have 0 variabilities. But explain why.) b. What is the total budget variability? c. What is the range of the total budget? (i.e., minimum possible and maximum possible) d. What is the probability that the total budget is greater than or equal to 3400 ? Suppose the project has a fairly high probability of exceeding the budget limit of 3200k. In that case, the project team member will need to obtain additional permission from the corporate headquarter and secure additional contingency funding. How likely that they will have to do it? Please comment on this based on your findings from the simulation