Question: This part may be completed in either Excel or in R. In case R has been used for this part, the assignment will consist of

 This part may be completed in either Excel or in R.

In case R has been used for this part, the assignment will

This part may be completed in either Excel or in R. In case R has been used for this part, the assignment will consist of 3 submissions: () the word document, (ii) The Excel workbook for part I, (iii) the R script file (with extension ".R") of part II. Assume that all problem parameters have the same values as those in part I, but that the annual demand has a triangular probability distribution between 14000 and 17000 units with a mode of 15000 units. I. If using Excel, perform a simulation consisting of 30 occurrences, and calculate the minimum total cost for each occurrence. If using R, perform a simulation consisting of 1000 occurrences, and calculate the minimum total cost for each occurrence. Next, use the results of your simulation to: (1) Estimate the expected minimum total cost by constructing a 95% confidence interval for it and determine the probability distribution that best fits its distribution. Verify the validity of your choice

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