Question: Implement a financial simulation model for a new product proposal and determine a distribution of profits using the provided discrete distributions for the unitcost, demand,

Implement a financial simulation model for a new product proposal and determine a distribution of profits using the provided discrete distributions for the unitcost, 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 averageprofit?

Unit Cost Probability

400 0.25

600 0.40

700 0.25

800 0.10

Demand Probability

120 0.20

140 0.55

160 0.25

Fixed Costs Probability

45,000 0.20

50,000 0.50

55,000 0.30

Simulation Results

11000

-19000

6000

14000

-22000

39000

-13000

34000

6000

-28000

-8000

-22000

-13000

29000

-8000

11000

-33000

9000

-17000

11000

6000

-9000

-8000

34000

6000

-23000

6000

-19000

-8000

6000

-13000

34000

-8000

29000

-8000

34000

-13000

6000

11000

-17000

29000

11000

6000

34000

-28000

34000

29000

-28000

Set up a lookup table for the fixed costs.

(Type integers or decimals. Do not round. Use ascendingorder.)

Set up a lookup table for the fixed costs.

(Type integers or decimals. Do not round. Use ascending order.)

Fixed Costs Probability Lower Limit Upper Limit

$45,000 0.20 $45,000

$50,000 0.50 $50,000

$55,000 0.30 $55,000

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