1. Stanley Mann, an engineering at TAMU has been having problems balancing his checkbook. He has a work study job on campus and also makes extra money in most months by tutoring business students in quantitative methods. His chances of various income levels are shown in the following table (assume that this income is received at the beginning of each month.

Monthly Income	Probability
$860	.30
$960	.30
$1060	.25
$1160	.15

Mann has expenses that vary from month to month, and estimates that they will follow this distribution:

Monthly Expenses	Probability
$800	.10
$900	.25
$1000	.40
$1100	.25

Mann begins his final year with $1225 in his checking account.

A)Create a model to show Stanleys monthly cash flow, simulating the random variables of Income and Expenses according to the distributions given above.

B)Simulate the cash flow for 12 months.

C)Calculate the average monthly ending cash.

*Please include steps, thank you! Use excel to generate random variables.