Question: Please answer this question in detail. Also, please make sure to show the work in excel so it helps me understand . I'll make sure

Please answer this question in detail. Also, please make sure to show the work in excel so it helps me understand. I'll make sure to give a THUMBS UP!

Please answer this question in detail. Also,

Provide a short discussion.

Question 3. Joe's Coffee Shop has fresh muffins delivered each morning. Daily demand for muffins is approximately normal with a mean of 2000 and a standard deviation of 150 . Joe pays $0.40 per muffin and sells each muffin for $1.25. Joe and the staff eat any leftovers they can and throw the rest, instead of feeding homeless. What a shame! a) Using a simulation approach, create 1000 random demand numbers (use the Excel function NORMINV(RAND ),2000,150) ) and find the expected profit from the muffins if Joe orders the optimal order quantity. Try two other order quantities to illustrate the change in the expected demand

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