I am having trouble understanding how to simulate profit

11. (20 points) In a simulation of profit for one month, the following assumptions are made: V = Volume of units sold (demand) varies as a Normal distribution with u = 1,200 and o = 300 P = Price varies uniformly over $700 to $900 per unit sold CF = Fixed costs are $150,000 per month Cv = Variable costs per unit, which follow this discrete probability distribution: Cost Probability $500 0.30 $625 0.40 $675 0.20 $750 0.10 a. (3 pts) Write below the profit formula for this simulation using the symbols shown above: Profit = Page 4 of 811, CONTINUED b. (3 pts) A run using a Normal distribution random number generator produced a sales volume ( V ) of 925 units for the first trial of the simulation. What was the probability of generating this amount or something even less? Write below your calculator function and its inputs or calculate the Z score and show how you used the Z table. ANS C. (3 pts) Use the random number 0.7500 to determine the price ( P ) for the first trial of the simulation. Show your work. ANS BY CV d. (5 pts) Use the random number 0.8995 to determine the variable unit cost ( Cy ) for the first trial of the simulation by completing the following: i. (3 pts) Complete the lower and upper bounds for a continuous (real number) implementation: Cumulative Probability Lower Upper Cost Probability Bound Bound $500 0.30 $625 0.40 $675 0.20 $750 0.10 ii. (2 pts) Therefore the unit cost to use is: Page 5 of 8Problem 11, CONTINUED e. (3 pts) Use the previous simulation picks and your profit formula from part a to calculate the profit for the first trial of the simulation. Remember to show your work! from ANS ish f. (3 pts) Suppose a simulation of profit was run for a total of 2,250 trials. The following summary statistics were obtained for this simulation: Mean profit $285,400 Standard deviation in profit $114,160 Number of trials showing a loss 180 Coefficient of Variation ( CV ) 40% Then based on frequency the probability of showing a profit =