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finan- 22. Develop a simulation model for a three-year data and information. Sales volume in the first year cial analysis of total profit based on
finan- 22. Develop a simulation model for a three-year data and information. Sales volume in the first year cial analysis of total profit based on the following is estimated to be 100,000 units and is projected to grow at a rate that is normally distributed with a mean of 7% per year and a standard deviation of 4%. The selling price is $10, and the price increase is normally distributed with a mean of $0.50 and stan dard deviation of $0.05 each year. Per-unit variable costs are $3, and annual fixed costs are $200,000. Per-unit costs are expected to increase by an amount normally distributed with a mean of 5% per year and standard deviation of 2%. Fixed costs are expected to increase following a normal distribution with a mean of 10% per year and standard deviation of 3%. Based on 500 simulation trials, compute summary statistics for the average three-year undiscounted cumulative profit
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