SOLVE USiNG EXCEL

A coffee shop must decide how many newspapers it should order. Each newspaper costs $2 and is sold for $4.25. Any unsold newspapers at the end of the day are returned for a refund of $0.50.

Assume that the daily demand for newspapers varies according to the following rules:

Case a - The demand follows a triangular distribution, with minimum, maximum & most likely values of 90, 140 & 100.

Case b - The demand follows a triangular distribution, with minimum, maximum & most likely values of 140, 160 & 150.

Case c - The demand follows a triangular distribution, with minimum, maximum & most likely values of 160, 210 & 200.

Case d - The demand follows a uniform distribution, between 210 and 250.

Additionally, there is a 35% chance that case A occurs, a 20% chance that case B occurs, a 30% chance that case C occurs and a 15% chance that case D occurs.

Data is shared below

Run Monte Carlo simulation for the profit distribution for this business problem and determine number of newspapers to be ordered. Please show all relevant graphs and figures.

D16 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 X fx Newspaper Cost B C D Newspaper Cost Newspaper Selling Price Newspaper Refund Price Newspaper Demand Newspapers Ordered Newspapers Sold Total Profit Expected Profit Standard Deviation of Profit Demand Case a Case b Case c Case d Distribution E #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? $2.00 $4.25 $0.50 210 Probability F 0.35 0.2 0.3 0.15 G D16 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 X fx Newspaper Cost B C D Newspaper Cost Newspaper Selling Price Newspaper Refund Price Newspaper Demand Newspapers Ordered Newspapers Sold Total Profit Expected Profit Standard Deviation of Profit Demand Case a Case b Case c Case d Distribution E #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? $2.00 $4.25 $0.50 210 Probability F 0.35 0.2 0.3 0.15 G