A manufacturer of a smartphone battery estimates that monthly demand follows a normal distribution with a mean of 300 units and standard deviation of 26. Material cost is uniformly distributed between $7.00 and $8.50. Fixed costs are $2,700 per month, regardless of the production rate. The selling price is $15 per unit.

a. Use excel to simulate 100 runs with the random generated number formula, and please show all formulas used. b. What are the best and worst profit scenarios for the company?