Homework Assignment 6Note: Please use the template Excel file provided.Vending Machines[10 points] A company has decided to launch a new venture where they will install a number of automaticvending machines at various locations in a major city. Two different machine designs are being considered,the UltraVend 3000 and the Vendomatic Deluxe. Both designs cost about the same amount of money topurchase and are equally easy to use from the customer's point of view. The main difference between thetwo are frequency of repair and ease of repair. The UltraVend breaks down frequently, but does not takevery long to repair. The Vendomatic breaks down less often, but takes longer to repair when it does breakdown. These differences may be critical since whenever a machine breaks down, customers are unable tomake purchases and revenues are lost until the machine has been fixed by a field technician and put backinto service. Your director of vending sales says that a machine will lose more than $10.00 per hour butless than $20.00 per hour while it is out of service. Her best estimate is that the typical machine will lose amedian of $13.50 per hour (50 th percentile). She further assesses there is only a 0.05 probability that thehourly loss rate will be less than $11.00, and only a 0.05 probability that the loss will be more than $17.50.An independent testing company has reported the result of field tests of 100 units of each type ofmachine. Table 1 and Table 2 report the probability of the breakdown frequency (times per machine permonth) and the required repair duration (time from breakdown until back in service, in hours).Table 1: Breakdown frequencyTable 2: Repair DurationUse the following model to represent the lost profits due to breakdowns:Cost per month =( number of breakdowns // month )xx( repair duration in hours )xx( sales lost //hour).Suppose you would like to use simulation analysis to recommend the best course of action (to maxi-mize the EMV). Construct a simulation model and perform Monte Carlo analysis to find the best courseof action.Note: Please include your analysis (reasoning) and your conclusion in addition to your Excel model.