Step $1$: Please locate a real$-$life problem with inherent uncertainties and a possible decision dilemma. Step $1$: Please locate a real$-$life problem with inherent uncertainties and a possible decision dilemma.

Please cite your source for this problem. Please explain the uncertainties using appropriate probability

distributions either using data from the problem context or by justifying them within the business

context. There should be at least three different uncertainties in your context. Please state the real$-$life

problem as a simulation problem $(40$ pts $).$

Step $2$: Please develop a base case for the simulation problem you stated in Step $1($by ignoring the

uncertainties$).$ Your base case should follow spreadsheet modeling principles $(20$ pts $).$

Step $3$: Please conduct all steps of the simulation process in Excel and explain your insights $(40$ pts $).$

Please cite your source for this problem. Please explain the uncertainties using appropriate probability

distributions either using data from the problem context or by justifying them within the business

context. There should be at least three different uncertainties in your context. Please state the real$-$life

problem as a simulation problem $(40$ pts$).$

Step $2$: Please develop a base case for the simulation problem you stated in Step $1($by ignoring the

uncertainties$).$ Your base case should follow spreadsheet modeling principles $(20$ pts$).$

Step $3$: Please conduct all steps of the simulation process in Excel and explain your insights $($

PLEASE USE EXCEL