Question: Q3. Magazine -- Create necessary columns for simulation and carry out all relevant calculations to solve the problem. Provide all column titles and other relevant

Q3. Magazine -- Create necessary columns forQ3. Magazine -- Create necessary columns for

Q3. Magazine -- Create necessary columns for simulation and carry out all relevant calculations to solve the problem. Provide all column titles and other relevant explanations. R# Magazine Demand 4 5 Weeks/ Tria 1 2 3 4. 5 6 6 6 4 0 2 9 7 0 8 9 10 7 9 Q3. University bookstore Barnes & Noble orders a weekly entertainment magazine. Demand varies each week; historical records show the following distribution: Number of Magazines Probability 21 1/10 22 1/10 23 3/10 24 2/10 25 3/10 Each magazine costs $1.54 and sells for $2.70. Any magazines remaining at the end of the week are sold to a local retirement home for $0.25 each. Develop a simulation model in excel and determine the best order quantity (number of magazines) for inventory, so the average profit is maximum. Also, provide average profits for each inventory level. Simulate for 10 weeks using excel and draw your conclusions. Use only the random numbers provided in the attached excel file (do not change data format) to generate demand. Highlight your answers in the excel sheet, then submit the file in ReggieNet. Name the Excel file as your LastName_FirstName_Sec#. Also, write down your name and section number on the excel sheet

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