Question: please answer this question and all its sub tasks(8-11) New Car Input Data Statistics Unit Selling Price $32 000 Sample Size Mean Profit Standard Deviation

please answer this question and all its sub tasks(8-11)please answer this question and all its sub

New Car Input Data Statistics Unit Selling Price $32 000 Sample Size Mean Profit Standard Deviation GM is trying to decide whether to introduce a new car model. The selling price for the car will be $32,000. The fixed production cost of developing the car is assumed to be uniformly distributed between $600 million and $1.1 billion. The demand for the car described by a normal distribution with a mean of 120,000 units and a standard deviation of 30,000. The unit variable cost for the car is distributed as shown below. Fixed Cost (Uniform Distribution) Lower bound $600 000 000 Upper bound $1 100 000 000 Probability of Profit >= 100 mil Unit Variable Cost Random Number Intervals Probability Lower Limit Upper Limit 0,15 0,35 0,30 0,201 Demand (Normal Distribution) Mean 120 000 Standard Dev 30 000 Cost per Unit $17 000 $19 000 $20 000 $22 000 Cost per Unit Probability $17,000 0.15 $19,000 0.35 $20,000 0.30 $22,000 0.20 (Selling price - Unit VC) *Dmd - Fixed Production Cost (8) Simulation Trials (1) (3) (7) Complete the random number interval table for unit variable cost. Simulate the profit with 1000 trials. 8) What is the fixed production cost for trial 1? 9) What is the mean profit from the simulation? 10) What is the standard deviation of profit? 11) What is the probability of making atleast 100 million dollars in profit? 12) GM is willing to introduce the car if there is at least 95% probability of making a profit AND at least 85% probability of making profit of at least $100 million. Compute these two probabilities. What will be your recommendation? (5) Unit Variable Cost Trial Fixed prodctuion Cost Demand Profit 1 2 3 4 5 6 7 8 9 10 996 997 998 999 1000 (2) Random Number 0,957 0,040 0,757 0,807 0,798 0,854 0,697 0,796 0,951 0,936 0,245 0,976 0.785 0.568 0.855 (4) Random Number 0,611 0,443 0,970 0.253 0,191 0,495 0,696 0.441 0,968 0,140 0,569 0,509 0,580 0,091 0.229 (6) Random Number 0,652 0,331 0.154 0.883 0,600 0,192 0.373 0.909 0,461 0,175 0,075 0,985 0,777 0,421 0,936

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