Question: Part 3: Simulation TBay Inc. has collected the historical data of its annual sales, and the probability is provided in the table below. Annual Sales

Part 3: Simulation TBay Inc. has collected the

Part 3: Simulation TBay Inc. has collected the historical data of its annual sales, and the probability is provided in the table below. Annual Sales 1000 2000 3000 4000 Probability 0.10 0.35 10.40 0.15 The company would like to apply Monte Carlo simulation to for its annual sales. a. Determine the cumulative probability of the annual sales and the interval of random numbers (from 1 to 100). b. Assume the following random numbers were generated for a five-year simulation, determine the simulated annual sales and average sales. c. Calculate the expected annual sales and compare with the simulated annual sales. Describe your observation and make recommendations

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