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Question Set 1. You are an inventory management consultant. You have been hired by Costco to help optimize inventory management for their Poultry department. Your immediate task is building a Monte Carlo simulation for sales of Eggs. Chicken and Turkey. The probabilities of monthly demand levels are Probability Turkey 288 308 320 340 0.05 0.10 0.15 0.05 0.15 0.10 0.15 0.10 0.10 0.05 174 210 234 250 268 290 308 324 348 384 Chicken 258 289 302 320 342 366 388 400 421 454 352 366 382 403 440 480 The unit revenues and costs are given in the table below. Product Unit Revenue Unit Cost Eggs $1.76 $0.98 Chicken $2.69 $1.88 Turkey $3.29 $2.03 Each product has a separate display with an associated foed monthly cost Product Fixed Monthly Display Cost Eggs 599 Chicken $229 Turkey $309 1. (5pts) Build a table for the cumulative probability distribution for demand. It should be set up for use with the VLOOKUP function with the cumulative probabilities on the left 2 2 (15pts) Build a table for tracking sales over one year (Jan 2021-Dec 2021) with separate columns for Eggs, Chicken and Turkey This will just be the randomized demand value for each item for each month (like in 10 12 from the lab exercise on Monte Carlo simulations). For this assignment, assume all demand is actually met (that is, sales = demand) and there is no other inventory loss except through sales 3. (10pts) Build a table for tracking total revenues, costs and profit for the year. This table should use the information provided in your answer to 2 above. Your table should calculate values for Total Revenue (based on the combined sales of all three products over the year) Total Cost (also based on combined sales, and induding cost of goods sold and fixed costs) Profit/Loss (total revenue minus total costs) 4. (10pts) Create a data table to generate 50 runs of the simulation and calculate the average profit of the 50 simulation runs. As in previous assignments, this must be an actual data table structure to earn full credit Calculate the average profit over the 50 simulation runs Question Set 1. You are an inventory management consultant. You have been hired by Costco to help optimize inventory management for their Poultry department. Your immediate task is building a Monte Carlo simulation for sales of Eggs. Chicken and Turkey. The probabilities of monthly demand levels are Probability Turkey 288 308 320 340 0.05 0.10 0.15 0.05 0.15 0.10 0.15 0.10 0.10 0.05 174 210 234 250 268 290 308 324 348 384 Chicken 258 289 302 320 342 366 388 400 421 454 352 366 382 403 440 480 The unit revenues and costs are given in the table below. Product Unit Revenue Unit Cost Eggs $1.76 $0.98 Chicken $2.69 $1.88 Turkey $3.29 $2.03 Each product has a separate display with an associated foed monthly cost Product Fixed Monthly Display Cost Eggs 599 Chicken $229 Turkey $309 1. (5pts) Build a table for the cumulative probability distribution for demand. It should be set up for use with the VLOOKUP function with the cumulative probabilities on the left 2 2 (15pts) Build a table for tracking sales over one year (Jan 2021-Dec 2021) with separate columns for Eggs, Chicken and Turkey This will just be the randomized demand value for each item for each month (like in 10 12 from the lab exercise on Monte Carlo simulations). For this assignment, assume all demand is actually met (that is, sales = demand) and there is no other inventory loss except through sales 3. (10pts) Build a table for tracking total revenues, costs and profit for the year. This table should use the information provided in your answer to 2 above. Your table should calculate values for Total Revenue (based on the combined sales of all three products over the year) Total Cost (also based on combined sales, and induding cost of goods sold and fixed costs) Profit/Loss (total revenue minus total costs) 4. (10pts) Create a data table to generate 50 runs of the simulation and calculate the average profit of the 50 simulation runs. As in previous assignments, this must be an actual data table structure to earn full credit Calculate the average profit over the 50 simulation runs