Question: Please solve the following simulation problem using Excel; provide screenshots for formulas: B&C clothing stores is trying to determine how many Karen Michelle dresses to

Please solve the following simulation problem using Excel; provide screenshots for formulas:
B&C clothing stores is trying to determine how many Karen Michelle dresses to order for the spring season. Demand for the dresses is assumed to follow a normal distribution with a mean of 400 and standard deviation of 100. The contract between Karen Michelle and B&C works as follows. At the beginning of the season, B&C reserves X units of capacity. B&C must take delivery for at least 0.8X dresses and can, if desired, take delivery on up to X dresses. Each dress sells for $160 and Karen Michelle charges $50 per dress. If B&C does not take delivery on all X dresses, it owns Karen Michelle a $5 penalty for each unit of reserved capacity that is unused. For example, if B&C orders 450 dresses and demand is for 400 dresses, B&C will
receive 400 dresses and owe Karen Michelle 400($50)+50($5). How many units of capacity should B&C reserve to maximize its expected profits? Use trial values of 400 to 600 dresses in increments of 50.

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