PROBLEM #$1$

Consider a retail store which sells a perishable good with a life of only one

period. At the beginning of each period, the store in anticipation of demand,

order Q pounds from a supplier at a cost of $$75/$lb$.$ The demand is uncertain,

but based on historical data, it follows a normal distribution with mean $=$

$300$ and standard deviation $=75.$ The retail price of this item is $$95/$lb$.$ If

demand exceeds Q$,$ only amount Q can be sold. In case the demand is less

than Q$,$ any unused amount is sold to a discount chain for a salvage value of

$$30/$lb$.$

$($a$)$ Design an EXCEL s