Please reference the screenshot for the question.

Problem 1: Insurance Scenario Suppose you have purchased homeowner's insurance. This insurance policy has a $5000 deductible, so that if you have a claim and the damage is less than $5000, you pay for it out of pocket. However, if the damage is greater than $5000, you pay the first $5000 and the insurance pays the rest. In the current year there is probability 0.085 that you will have a claim. IF you have an claim for damages on your home, the damage amount is normally distributed with mean of $7,000 and standard deviation of $2,000. Build a Monte Carlo simulation model to show your out-of-pocket expense in this scenario. Use a data table to run 5000 iterations of the model. Analyze the results of the 5000 iterations to find how often a claim was filed, and how often the claim amount met or exceeded the deductible. Show both as a percentage of the 5000 iterations