H M Recovery N the following less krep instructions: A company wants to predict its profit from a certain product next year, based on the Number of items sold and Pront Mapin per item(multiplying these together yies the total profit). The company is not sure how many item it will sell so let's assume that Number of items sold follows a normal distribution with mean2,900 and 400. You will need to round the output of this normal distribution to the rest whole number with Excel's ROUND function, since we cannot have tractions of an item. 11-3 Saree that ab 11-1 the 21 The company is also not sure of its profit margin. Assume that Profit Margin per item follows a normal distribution with mean $6.50 and standard deviation $4.50. You are not required to round this valun, even if it has more than two decimal points (thwhs you can if you want your solution will hardly change The spreadsheet model below is mostly complete. but needs probability tables added for Number of emot and Profit Margin peritum. Add probability tables for each, then run a Monte Carlo mutation over 200 that products 1 the company's Total Refit Thawer the question on the Responsert Output 1 Inputs 4 Mbet of sold Prett Marin gestem 1 Number of items sold Distrito 10 11 13 13 Data View Tell me what you want to do ormulas Review Help 1 Question Response Based on 200 Monte Carlo simulations, what is the average 2 total profit the company can expect next year? What is the standard deviation of the total profit the company 3 can expect next year? What is the interquartile range of the total profit the company 4 can expect next year? 5 6 7 8 10 11 12 13 18 15 19 20 25 H M Recovery N the following less krep instructions: A company wants to predict its profit from a certain product next year, based on the Number of items sold and Pront Mapin per item(multiplying these together yies the total profit). The company is not sure how many item it will sell so let's assume that Number of items sold follows a normal distribution with mean2,900 and 400. You will need to round the output of this normal distribution to the rest whole number with Excel's ROUND function, since we cannot have tractions of an item. 11-3 Saree that ab 11-1 the 21 The company is also not sure of its profit margin. Assume that Profit Margin per item follows a normal distribution with mean $6.50 and standard deviation $4.50. You are not required to round this valun, even if it has more than two decimal points (thwhs you can if you want your solution will hardly change The spreadsheet model below is mostly complete. but needs probability tables added for Number of emot and Profit Margin peritum. Add probability tables for each, then run a Monte Carlo mutation over 200 that products 1 the company's Total Refit Thawer the question on the Responsert Output 1 Inputs 4 Mbet of sold Prett Marin gestem 1 Number of items sold Distrito 10 11 13 13 Data View Tell me what you want to do ormulas Review Help 1 Question Response Based on 200 Monte Carlo simulations, what is the average 2 total profit the company can expect next year? What is the standard deviation of the total profit the company 3 can expect next year? What is the interquartile range of the total profit the company 4 can expect next year? 5 6 7 8 10 11 12 13 18 15 19 20 25
