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Please answer questions with the answers and put the answers in the picture where they belong
Answers only Please don’t make it confusing Please be clear Please write or type neatly The management of Madeira Manufacturing Company is considering the introduction of a new product variable cost for the product is uniform ly distributed between sis and S24 per unit. The produa wai sell ter ssa per unit ben and for the product s est seseos normal probability distribution with a mean of 1,100 units and a standard deviation of 300 units. Develop an Excel worksheet simulation trials to answer the following questions: The fixed cost to begin the production of the product is $38,000. The for this problem. Use 500 simulation a. What is the mean profit for the simulation? Round your answer to the nearest dollar Mean profit $ 500 | X b. What is the probability that the project will result in a loss? Recalculate the numerical value of probability in percent and then round your answer to the nearest in a number Probability of Loss-C-14) x %

Explanation / Answer

I have performed the simulation. Please find the excel file in the following link:

https://files.fm/u/mgsphg2h

Answers to your question, I have calculated using the formula in the excel file:

a. Mean profit = 2939

b. Probability of Loss = 0.40

Note: These values can change when you will open the file because it is a simulation and the trials are less.

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