Question 7. Solve the following inventory problem using the simulation approach. A supermarket sells a specific brand mobile and earns a revenue of AED 500 per mobile. It incurs a holding cost of AED 40 per mobile per month if a stocked mobile is not sold. Holding cost is a portion of the rent, insurance, and others. If there is a shortage, the market assigns a goodwill cost of AED50 a mobile. The store has a stocking policy of 225 mobiles a month. The demand for mobile is normally distributed with a mean of 230 and a standard deviation of 40 . a) Using the given random numbers and other parameters, simulate the operation for 15 months and provide your simulation output below. (Also upload your excel file) b) What is the net profit of the supermarket? (average monthly profit) c) What is the standard deviation (sample) of the profit? d) What is the service level? e) Does the service level acceptable to the supermarket? If yeso, explain why? Why not? f) To achieve a service level of 95%, how many mobiles do the company stock every month? (Hints: use goal-seek). g) If the supermarket aims for an average monthly profit of 100,000 , what price should the supermarket charge per mobile to achieve this profit? Question 7. Solve the following inventory problem using the simulation approach. A supermarket sells a specific brand mobile and earns a revenue of AED 500 per mobile. It incurs a holding cost of AED 40 per mobile per month if a stocked mobile is not sold. Holding cost is a portion of the rent, insurance, and others. If there is a shortage, the market assigns a goodwill cost of AED50 a mobile. The store has a stocking policy of 225 mobiles a month. The demand for mobile is normally distributed with a mean of 230 and a standard deviation of 40 . a) Using the given random numbers and other parameters, simulate the operation for 15 months and provide your simulation output below. (Also upload your excel file) b) What is the net profit of the supermarket? (average monthly profit) c) What is the standard deviation (sample) of the profit? d) What is the service level? e) Does the service level acceptable to the supermarket? If yeso, explain why? Why not? f) To achieve a service level of 95%, how many mobiles do the company stock every month? (Hints: use goal-seek). g) If the supermarket aims for an average monthly profit of 100,000 , what price should the supermarket charge per mobile to achieve this profit