Parameters Selling Price per Unit Raw Material Cost Per Unit Production Cost Per Unit Marketing Cost Per Unit Demand Model Profit Average Profit Raw Material Cost Per Unit Probability Cost ($) 16 18 20 0.3 0.35 0.15 Production Cost Per Unit Cost ($) 10 Probability 0.25 0.45 11 0.3 Marketing Cost Per Unit Cost ($) Probability 0.4 Simulation Trial 996 997 998 999 1000 Question 16 (4 points) Sunseel Industries produces different types of raw materials, and it is interested in using simulation to estimate the profit for the next year for its new product X. Sunseel has determined the desired selling price and the most likely costs for each category of costs. That information is in the Exam 3Data file in the sheet Sunseel1. Use the beginning of the model that is available to calculate the base case of Profit for the sales of Product X using the most likely costs. Use the model. Do not hardcode these costs. Sunseel believes that the most likely demand for the new product is 15000 units. Copy your formula for Profit and paste it below. Question 17 (4 points) Use the model to calculate the worst case of Profit if demand stays at 15,000. Enter your answer for Profit for Product X below as a whole number without any punctuation. Question 18 (4 points) Make a copy of the sheet Sunseel by right-clicking the sheet tab. Be sure to check Make a copy and put it at the end of the sheets. On this new sheet, change the model for a random simulation. There are already 1000 labeled rows in the sheet. Rows 23-994 are hidden to make it easier to work with. Sunseel has determined that the most likely demand for the product for the next year is a Normal Distribution with a mean of 12,500 and a standard deviation of 3,300. Create a formula to simulate Demand in cell B8. Copy your formula and enter it below. Question 19 (4 points) In the simulation model, create a formula to simulate Raw Material Cost per unit in cell B4. Copy your formula and enter it below. Question 20 (4 points) In the simulation model, create a formula to simulate Production Cost per unit in cell B5. Copy your formula and enter it below. Question 21 (4 points) In the simulation model, create a formula to simulate Marketing Cost per unit in cell B6. Copy your formula and enter it below. Question 22 (4 points) Create the simulation and calculate the probability that demand will be at least 15,000 units. Choose the range that best fits after updating your model several times. 0.70 to.80 0.3 to 4 0.20 to.3 0.9 to 1 Parameters Selling Price per Unit Raw Material Cost Per Unit Production Cost Per Unit Marketing Cost Per Unit Demand Model Profit Average Profit Raw Material Cost Per Unit Probability Cost ($) 16 18 20 0.3 0.35 0.15 Production Cost Per Unit Cost ($) 10 Probability 0.25 0.45 11 0.3 Marketing Cost Per Unit Cost ($) Probability 0.4 Simulation Trial 996 997 998 999 1000 Question 16 (4 points) Sunseel Industries produces different types of raw materials, and it is interested in using simulation to estimate the profit for the next year for its new product X. Sunseel has determined the desired selling price and the most likely costs for each category of costs. That information is in the Exam 3Data file in the sheet Sunseel1. Use the beginning of the model that is available to calculate the base case of Profit for the sales of Product X using the most likely costs. Use the model. Do not hardcode these costs. Sunseel believes that the most likely demand for the new product is 15000 units. Copy your formula for Profit and paste it below. Question 17 (4 points) Use the model to calculate the worst case of Profit if demand stays at 15,000. Enter your answer for Profit for Product X below as a whole number without any punctuation. Question 18 (4 points) Make a copy of the sheet Sunseel by right-clicking the sheet tab. Be sure to check Make a copy and put it at the end of the sheets. On this new sheet, change the model for a random simulation. There are already 1000 labeled rows in the sheet. Rows 23-994 are hidden to make it easier to work with. Sunseel has determined that the most likely demand for the product for the next year is a Normal Distribution with a mean of 12,500 and a standard deviation of 3,300. Create a formula to simulate Demand in cell B8. Copy your formula and enter it below. Question 19 (4 points) In the simulation model, create a formula to simulate Raw Material Cost per unit in cell B4. Copy your formula and enter it below. Question 20 (4 points) In the simulation model, create a formula to simulate Production Cost per unit in cell B5. Copy your formula and enter it below. Question 21 (4 points) In the simulation model, create a formula to simulate Marketing Cost per unit in cell B6. Copy your formula and enter it below. Question 22 (4 points) Create the simulation and calculate the probability that demand will be at least 15,000 units. Choose the range that best fits after updating your model several times. 0.70 to.80 0.3 to 4 0.20 to.3 0.9 to 1