4) Gino rents bicycles on a daily base to tourists in Florence. He does not own the bicycles but leases them himself from a larger supplier. Every day, he leases 18 bicycles at a cost of $10 per day, and rents them to tourists at a price of $5 per hour. Rental demand follows a Poisson distribution with a mean of 18. He thinks that leasing the number of bicycles according to the average of the Poisson distribution should be best. The length of the rentals follows a normal distribution, with a mean of 3h and standard deviation of 0.5h

a. Simulate average daily profit, average weekly profit as well as the minimum weekly profit, maximum weekly profit and probability that he will make more than $500 per week. Assume he is working 7 days per week. Is Gino correct with his assumption that leasing 18 bicycles is best?

b. Gino wants to determine if he should lease a different number of bicycles. He considers options between 15 and 23 bicycles. Which number of bicycles would you recommend? (You can solve this problem either by using the PSISIMParam function or by building an LP-Simulation model. Trial-and error models will not receive full points).