Edward Owen is responsible for the maintenance, rental, and day-to-day operation of several large apartment complexes on the upper east side of New York City. Owen is especially concerned about the cost projections for replacing air conditioner (A/C) compressors. He would like to simulate the number of A/C failures 25- month period. Using data from similar apartment buildings he manages in a New York City suburb, Clark establishes the probability of failures during a month as in Table 1

A_ Simulate Owen's monthly A/C failures for a period of 25months. Compute the average number of failures based on 1 replication (25-month simulation = 1 replication). (4pts)

The average number of failures based on 1 replication is 2.36. See table 1 for details.

B_ Establish a data table for 300 replications using the average number of failures in (a- 25-month). Then, calculate the average number of failures based on 300 replications. (4pts)

C_ Determine the true mean number of failures with a 95% confidence level based on 300 replications (1pt).

D_ Insert a histogram to show the mean number of failures based on 300 replications (1pt).