1.) Use Microsoft Excel’s Analytic Solver Platform (monte carol simulation) to solve the question… 1 answer below »
1.) Use Microsoft Excel’s Analytic Solver Platform (monte carol simulation) to solve the question below:
A consumer electronics firm produces a line of battery chargers for cell phones. The distributions below apply:
Unit Price: triangular with a minimum of $18.95, most likely value of $24.95, and maximum of $26.95
Unit Cost: uniform with a minimum of $12.00 and a maximum of $15.00
Quantity Sold: 10,000 – 250 Unit price, plus a random term given by a normal distribution with a mean of 0 and a standard deviation of 10
Fixed Costs: normal with a mean of $30,000 and a standard deviation of $5,000
1.) What is the expected profit?
2.) What is the probability of a loss?
3.) What is the maximum loss?
