Implement a financial simulation model for a new product proposal and determine a distribution of profits using the provided discrete distributions for the unit cost, demand, and fixed costs. Price is fixed at $1,000.

Simulate this model for 50 trials and a production quantity of 140. What is the average profit?

Simulation Results $6,000 $6,000 - $3,000 - $14,000 $34,000 - $3,000 - $22,000 $39,000 $6,000 $34,000 - $13,000 - $19,000 - $28,000 $11,000 - $37,000 - $19,000 $6,000 -$37,000 $39,000 - $9,000 $6,000 $29,000 $1,000 $34,000 - $42,000 $34,000 $1,000 $1,000 $29,000 - $17,000 $6,000 - $14,000 - $37,000 $14,000 $6,000 $6,000 - $33,000 $1,000 - $14,000 $34,000 - $13,000 $9,000 $14,000 $1,000 $29,000 $11,000 - $23,000 - $3,000 - $27,000 $1,000 - Discrete Distributions Unit Cost Probability $400 0.25 $600 0.40 $700 0.20 $800 0.15 Demand 120 140 160 Probability 0.20 0.50 0.30 Fixed Costs Probability $45,000 0.15 $50,000 0.55 $55,000 0.30 ... Set up a lookup table for the unit cost. (Type integers or decimals. Do not round. Use ascending order.) Unit Cost Probability Lower Limit Upper Limit $400 0.25 $400 $600 0.40 $600 $700 0.20 $700 $800 0.15 $800 Simulation Results $6,000 $6,000 - $3,000 - $14,000 $34,000 - $3,000 - $22,000 $39,000 $6,000 $34,000 - $13,000 - $19,000 - $28,000 $11,000 - $37,000 - $19,000 $6,000 -$37,000 $39,000 - $9,000 $6,000 $29,000 $1,000 $34,000 - $42,000 $34,000 $1,000 $1,000 $29,000 - $17,000 $6,000 - $14,000 - $37,000 $14,000 $6,000 $6,000 - $33,000 $1,000 - $14,000 $34,000 - $13,000 $9,000 $14,000 $1,000 $29,000 $11,000 - $23,000 - $3,000 - $27,000 $1,000 - Discrete Distributions Unit Cost Probability $400 0.25 $600 0.40 $700 0.20 $800 0.15 Demand 120 140 160 Probability 0.20 0.50 0.30 Fixed Costs Probability $45,000 0.15 $50,000 0.55 $55,000 0.30 ... Set up a lookup table for the unit cost. (Type integers or decimals. Do not round. Use ascending order.) Unit Cost Probability Lower Limit Upper Limit $400 0.25 $400 $600 0.40 $600 $700 0.20 $700 $800 0.15 $800