Question: estimated as follows: table [ [ table [ [ Procurement ] , [ Cost ( $ ) ] ] , Probability,Labor Cost (
estimated as follows:
tabletableProcurementCost $Probability,Labor Cost $Probability,Transportation,
a Compute profit per unit for the basecase, worstcase, and bestcase.
Profit per unit for the basecase: $
Profit per unit for the worstcase: $
Profit per unit for the bestcase: $
b Construct a simulation model to estimate the mean profit per unit. If required, round your answer to the nearest cent.
Mean profit per unit $
c Why is the simulation approach to risk analysis preferable to generating a variety of whatif scenarios?
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