Model this problem in Excel and use @Risk $($Excel Add$-$in$)$ simulation to prepare

your best estimate. After that answer the following questions:

$1.$ What will be the most likely cost of this project with $90\%$ confidence?

$2.$ Compare this cost with your earlier estimate $($without using @Risk$)$ and

discuss your findings?

$3.$ If your bid price is $$6\mathrm{.}0$M$,$ would you complete this project in profit$/$loss$?$