Data is provided

Question Set 1. You are an inventory management consultant. You have been hired by Walmart to help optimize inventory management for their Dairy department. Your immediate task is building a Monte Carlo simulation for sales of Milk, Eggs and Cheese. The probabilities of monthly demand levels are: Cheese 288 318 Probability 0.05 0.10 0.15 0.05 0.15 0.10 0.15 Milk 184 200 224 240 258 280 318 304 358 374 Eggs 268 299 302 310 345 368 378 330 350 362 376 392 413 450 490 400 0.10 0.10 0.05 411 444 The unit revenues and costs are given in the table below. Unit Revenue Product Milk Eggs Cheese $1.86 $2.79 $3.39 Unit Cost $1.18 $1.98 $2.15 Each product has a separate display with an associated fixed monthly cost: Product Milk Eggs Cheese Fixed Monthly Display Cost $100 $200 $300 1. (5pts) Build a table for the cumulative probability distribution for demand. It should be set up for use with the VLOOKUP function, with the cumulative probabilities on the left. 2. (15pts) Build a table for tracking sales over one year (Jan 2021-Dec 2021) with separate columns for Milk, Eggs and Cheese. This will just be the randomized demand value for each item for each month (like in 10.1.2 from the lab exercise on Monte Carlo simulations). For this assignment, assume all demand is actually met (that is, sales = demand) and there is no other inventory loss except through sales. 3. (10pts) Build a table for tracking total revenues, costs, and profit for the year. This table should use the information provided in your answer to 2., above. Your table should calculate values for: Total Revenue (based on the combined sales of all three products over the year) Total Cost (also based on combined sales, and including cost of goods sold and fixed costs) Profit/Loss (total revenue minus total costs) 4. (10pts) Create a data table to generate 50 runs of the simulation and calculate the average profit of the 50 simulation runs. As in previous assignments, this must be an actual data table structure to earn full credit. Calculate the average profit over the 50 simulation runs