A grocery store orders a weekly hobby magazine. The demand varies weekly, but the historical records of the store indicate that there is a trend according to the following table: MAGAZINE PROBABILITY 20 1/36 21 4/36 22 17/36 23 12/36 24 2/36 Each magazine costs $ 1.50 and sells for $ 2.50. Unsold magazines are donated to a retirement home. a) Establish a random number generation strategy to simulate demand Tip: Use two dice to simulate demand and remember that the possible outcomes for the sum of two dice are the following: 1 2 DICE 1 1 2 3 4 5 2 3 5 6 3 5 7 4 5 6 7 5 6 9 10 6 7 8 9 10 11 7 8 9 10 11 12 DICE 2 3 voluWN MON00 N00 00 OWN ON 00 ON 009 BA 4 5 6 b) Determine the function for calculating the utility. c) Develop a simulation model that determines the optimal number of journals to order to maximize expected utility. (I did at least 30,000 reps) d) Present your results by means of a graph of Utility vs. Ordered Quantity. A grocery store orders a weekly hobby magazine. The demand varies weekly, but the historical records of the store indicate that there is a trend according to the following table: MAGAZINE PROBABILITY 20 1/36 21 4/36 22 17/36 23 12/36 24 2/36 Each magazine costs $ 1.50 and sells for $ 2.50. Unsold magazines are donated to a retirement home. a) Establish a random number generation strategy to simulate demand Tip: Use two dice to simulate demand and remember that the possible outcomes for the sum of two dice are the following: 1 2 DICE 1 1 2 3 4 5 2 3 5 6 3 5 7 4 5 6 7 5 6 9 10 6 7 8 9 10 11 7 8 9 10 11 12 DICE 2 3 voluWN MON00 N00 00 OWN ON 00 ON 009 BA 4 5 6 b) Determine the function for calculating the utility. c) Develop a simulation model that determines the optimal number of journals to order to maximize expected utility. (I did at least 30,000 reps) d) Present your results by means of a graph of Utility vs. Ordered Quantity