Question: I'm stuck on this question and need step-by-step formulas added in Excel format following the Monte Carlo Simulation Profitahility of New Product. The management of

I'm stuck on this question and need step-by-step formulas added in Excel format following the Monte Carlo Simulation

I'm stuck on this question and need step-by-step formulas added in Excel

Profitahility of New Product. The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows: Procurement Probability Labor Probability Transportation Proba Cost (8) Cost (8) Cost (8) 10 0.25 20 0.10 3 0.7 11 0.45 22 0.25 5 0.2 12 0.30 24 0.35 25 0.30 a. Construct a simulation model to estimate the average profit per unit. What is a 95% confidence interval around this average? b. Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. What is a 95% confidence interval around this proportion

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