Question: Using simulation software such as Analytic Solver Platform, develop a simulation model for the Sanotronics problem that was presented in Section 14.2 using native Excel

Using simulation software such as Analytic Solver Platform, develop a simulation model for the Sanotronics problem that was presented in Section 14.2 using native Excel functionality.

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?

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