It is foolhardy to assume that such a deterministic solution as provided in Problem 3 could be realistic.In these questions, we will build a solution under uncertainty using the monte-Carlo simulation.Consider the following sources of variability:

1 - The probability of success of the "in-house" solution is uniformly distributed between 75% and 95%.

2 - The probability that the low-budget marketing campaign will produce $2,000,000 in sales in uniformly distributed between 5% and 25%.

3 - The probability that the low-budget marketing campaign will produce $4,000,000 in sales in uniformly distributed between 30% and 60%.

4 - The probability that the high-budget marketing campaign will produce $4,000,000 in sales in uniformly distributed between 40% and 65%.

5 - The probability that the high budget marketing campaign will produce $5,000,000 in sales in uniformly distributed between 10% and 30%.

A)Provide a 1,000 iteration Monte-Carlo simulation for Problem 3 above.Upload your Excel File.BE SURE AND PROVIDE ALL RELEVANT SCREENSHOTS IN YOUR ONE Word Document.

B)What is the distribution of each of the 5 scenarios.

C)What is the probability that producing in-house is favorable?

D)Comment on this technique.