Question: Please do this in Excel Paris Bakery makes (bakes) 35 batches of its famous beignets at the beginning of each day. Each batch costs $50

Please do this in Excel Paris Bakery makesPlease do this in Excel

Paris Bakery makes (bakes) 35 batches of its famous beignets at the beginning of each day. Each batch costs $50 to make. Each batch sells for $100. Although the Bakery makes 35 batches, after removing a few beignets with blemishes, the bakery is usually left with 34 or 33 batches for sale. On any given day, the bakery may have 34 batches for sale with probability 0.7 and 33 batches for sale with probability 0.3 The bakery looked at its demand over the last 200 days and finds that the daily demand frequency distribution is as follows. Daily Demand (no. of Batches) 15 20 25 30 35 40 Frequency (number of days) 5 15 60 60 35 25 On any given day, if demand is less than what is available for sale, the bakery sells all unsold batches for $25 per batch to a thrift store. The thrift store sells those the next day in a different part of town and the thrift store sales do not affect the demand at the Paris Bakery. Create a Simulation model of the bakery operations to calculate the bakery's daily profit. Replicate the simulation for 500 days to estimate the daily profit. a) Based on your simulation, estimate the average daily profit. b) Estimate the probability that the bakery makes a loss (on beignets) on any day c) Estimate the percentage of days on which the bakery makes $800 or more profit. d) Construct a 95% confidence interval for average daily profit. You must write down the observations and conclusions from the simulation study in such a way that the business owner can understand

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