Suppose a particular part of a manufacturer’s assembly line is automated. The following table contains information about the types of repairs offered by the manufacturer. Any mechanical repair will also require a charge of $200 for parts.

Type of repair	Probability	Cost per hour	Repair time distribution (hrs)
Software only	0.35	$70/hr	Lognormal (mean = 0.75, stdev = 6)
Mechanical only	0.40	$80/hr	Exponential (mean = 1.5)
Both Software and Mechanical	0.15	$130/hr	Weibull (shape = 2, scale = 3)
Electrical only	0.10	$90/hr	Triangular (min=0, likely=1.2, max=4)

Using Excel with ASPE, build a simulation to answer the following questions. Use 5,000 replications. Set your random number seed to 5 (so that answers will be consistent).

1. Estimate the average overall repair cost by simulating the repairs in Excel or you can do simulation in R.

2. Find the standard deviation of the repair cost from your simulation.

3. Find the probability that the overall repair cost exceeds $350. Be sure to express your answer as a probability and not as a percent.