Using Excel Formulas solve in excel

1.Salemach Corporation is a start-up company that manufactures simple machines. It is interested in analyzing the profit from a new machine. It estimates that the selling price will be $150 per unit and the setup and advertising costs will total $250,000. The company estimates that the per unit raw material cost is uniformly distributed between $50 and $80 and are equally likely. The demand is normally distributed with a mean of 12,000 units and a standard deviation of 3,000 units. The probability distribution for a range of labor cost per unit is given below.

Labor Cost

Probability

$52

0.05

$53

0.25

$54

0.40

$55

0.25

$56

0.05

a.Obtain estimates for the mean profit, maximum profit, minimum profit, and standard deviation of profit.

b. What is your estimate of the probability of a loss?