Construct a simulation model to estimate the mean profit $($in $$)$ per unit. $($Use at least $1,000$ trials. Round your answer to two decimal places.$)$

$

$7\mathrm{.}10$

Incorrect: Your answer is incorrect.

$($e$)$

Why is the simulation approach to risk analysis preferable to generating a variety of what$-$if scenarios?

Simulation will provide

a distribution

Correct: Your answer is correct.

of the profit per unit values which can then be used to find

the probability

Correct: Your answer is correct.

of an unacceptably low profit.

$($f$)$

Management believes the project may not be sustainable if the profit per unit is less than $$5.$ Use simulation to estimate the probability the profit per unit will be less than $$5.($Round your answer to three decimal places.$)$

$0\mathrm{.}065$

Incorrect: Your answer is incorrect.