PROBLEM: GREETING CARD PRODUCTION SIMULATION GREETING CARD INC., IS TRYING TO DETERMINE HOW MANY VALENTINE'S DAY GREETING CARDS TO MANUFACTURE. THEIR FIXED PRODCUTION COST = $ 2,000,000 (REGARDLESS OF NUMBER OF CARDS PRODUCED) THEIR VARIABLE COST IS $ 0.70 PER CARD FOR EXAMPLE, PRODUCING 1,000,000 CARDS COST = $ 2,700,000 GREETING CARD BELIEVES THAT FUTURE DEMAND WILL FOLLOW A RANDOM NORMAL VARIABLE WITH MEAN = 2,000,000 AND STD DEV = 400,000 THE CARDS ARE SOLD FOR $ 4.00 AND LEFTOVER CARDS HAVE A SALVAGE VALUE OF $.05 QUESTION: AMONG THE PRODUCTION QUANTITIES: 2.4 MILLION, 3.0 MILLION, 3.6 MILLION, 4.2 MILLION, OR 4.8 MILLION WHICH WILL MAXIMIZE THE COMPANY'S EXPECTED PROFIT ? (RUN 1000 SIMULATIONS) PROBLEM: GREETING CARD PRODUCTION SIMULATION GREETING CARD INC., IS TRYING TO DETERMINE HOW MANY VALENTINE'S DAY GREETING CARDS TO MANUFACTURE. THEIR FIXED PRODCUTION COST = $ 2,000,000 (REGARDLESS OF NUMBER OF CARDS PRODUCED) THEIR VARIABLE COST IS $ 0.70 PER CARD FOR EXAMPLE, PRODUCING 1,000,000 CARDS COST = $ 2,700,000 GREETING CARD BELIEVES THAT FUTURE DEMAND WILL FOLLOW A RANDOM NORMAL VARIABLE WITH MEAN = 2,000,000 AND STD DEV = 400,000 THE CARDS ARE SOLD FOR $ 4.00 AND LEFTOVER CARDS HAVE A SALVAGE VALUE OF $.05 QUESTION: AMONG THE PRODUCTION QUANTITIES: 2.4 MILLION, 3.0 MILLION, 3.6 MILLION, 4.2 MILLION, OR 4.8 MILLION WHICH WILL MAXIMIZE THE COMPANY'S EXPECTED PROFIT ? (RUN 1000 SIMULATIONS)