Develop a simulation model to analyze the various alternatives that Eastern airlines has for

insuring its fleet. Which insurance plan do you recommend and why?

Calculate distributions for the net costs under the two different insurance plans. In addition,

though the case says that Eastern is not considering $$self$-$insurance$($i$.$e$.,$ not buying any

insurance$),$ please consider the distribution for the net costs associated with this possibility as

well. Prepare a table describing the statistics of these three distributions $($e$.$g$.,$ using Analyze,

Extract Data, Statistics$)$ and an overlay chart comparing them. Also prepare a brief write$-$up $($one

paragraph$)$ describing which plan you recommend and why.

You may work in your groups to set up and run the simulation for this assignment $($i$.$e$.,$ you

can share Excel files within this group$),$ but you should work individually when writing up your

recommendation