Question: Please solve this problem using excel and show each formula used to calculate the problem. Please upload the spreadsheet that used to solve the problem

Please solve this problem using excel and show each formula used to calculate the problem. Please upload the spreadsheet that used to solve the problem as well.

Ronald is a plumber and the owner of his own plumbing company. In a typical month, the number of service calls that he receives varies according to the following discrete distribution:

Number of Calls1516171819

Probability 0.30.30.20.10.1

His revenue per service call is normally distributed with a mean of $100 and a standard deviation of $20.

His monthly expenses can range between a minimum of $1000 and a maximum of $1500, so you may assume that monthly expenses are uniformly distributed between $1000 and $1500.

Simulate the random variables 'Number of calls', 'Revenue per service call' and 'Monthly expenses' and estimate the average profit per month that Ronald makes, based on 1000 replications.

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