Question: How to solve Using excel, please show steps ans formula 1 0 - 2 0 . Lionel's Life Jacket Rentals leases life jackets each day

How to solve Using excel, please show steps ans formula
10-20. Lionel's Life Jacket Rentals leases life jackets each day from a supplier and rents them to customers who use them when they raft down the Delaware River. Each day, Lionel leases 30 life jackets from his supplier at a cost of $4 per life jacket. He rents them to his customers for $15 per day. Rental demand follows the normal distribution, with a mean of 30 life jackets and a standard deviation of 6 life jackets. (In your model use integers for all demands.)
(a) Simulate this leasing policy for a month (30 days) of operation to calculate the total monthly profit. Replicate this calculation N times. What is the average monthly profit?
(b) Lionel would like to evaluate the average monthly profit if he leases 25,30,35, and 40 life jackets. What is your recommendation? Why?
Problem 10-20- Revenue Management Problem
(Calculations set to Manual. Press F9 to recalculate),
\table[[Day,Demand,Revenue,Cost,Profit],[1,,,,],[2,,,,],[3,,,,],[4,,,,],[5,,,,],[6,,,,],[7,,,,],[8,,,,],[9,,,,],[10,,,,],[11,,,,],[12,,,,],[13,,,,],[14,,,,],[15,,,,],[16,,,,],[17,,,,],[18,,,,],[19,,,,],[20,,,,],[21,,,,],[22,,,,],[23,,,,],[24,,,,],[25,,,,],[26,,,,],[27,,,,],[28,,,,],[29,,,,],[30,,,,],[,,Mont ly profit =,]]
Data Table
 How to solve Using excel, please show steps ans formula 10-20.

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