A thrifty engineering student is concerned about not exceeding her budget for gasoline, so she conducts a Monte Carlo simulation to see what range of costs her driving might incur. The cost can be determined from miles driven, fuel economy in miles per gallon (MPG), and cost per gallon for fuel. Her budget is $700 for the year. The inputs to the cost are all normally distributed mean and standard deviation given in the form (mean, SD): mileage (6000, 1000); miles per gallon (30, 4); cost of fuel ($3.25, $0.25).

Carry out a Monte Carlo simulation of the problem generating 1000 replicates and provide the average value of the sample, a histogram of the probability of being inappropriate cost bins, and the percent of iterates that are above the $700 threshold.