I would like some detail formulas for the following simulation for a Quantitative Methods challenge that will be done in an excel spreadsheet

NextGen Computer {NgC} Background After graduation from UWI, you plan to join and acid capacity to the family-owned business (FOB). You represent part of the second generation for this FOB, NextGen Computer {NgC}. NgC is involved in all areas of computer hardware and employs 20 persons, 50% of whom are family members. You have been identified as a possible successor. Current Scenario NgC has a contract to supply tertiary institutions across the Caribbean but has been facing a challenge in implementing an effective inventory management system. The CEO wants to examine ways to put a system in place. She learnt that you are doing a course which could help in this respect and has asked your do the project. Details The company provided data on one of its fasting selling computers, FC, over the last 60 months, stating that you should develop a system, which can then be modified to apply to the other lines of the business (see Table 1 for part of this data). NgC buys FC computers for US$1,200 and sells at a price based on the unit price range given in Table 2. It costs NgC US$100 to place an order and US$12 for every computer held in inventory at the end of the month. Currently, the company places an order for 1,000 FC computers whenever the inventory at the end of a month falls below 100 units. Assume unmet demand in any month is lost to competitors and that orders placed at the end of one month arrive at the beginning of the next month. Table 1: Demand for FC Demand {D) Months of Demand 250 3 270 5 300 10 320 8 350 26 380 8 Table 2: Selling Price for FC If Demand is Selling Price (US) 350 2,100 Reguired (a) (b) (C) (d) (8} Create a spreadsheet model to simulate the prot NgC will earn on this product over the next two years. (3 Marks) Use 300 replications to calculate the average profit NgC will earn AND calculate a 95% CI for this average. (2 + 2 Marks) Suppose NgC wants to determine the optimum reorder point and order quantity. Specifically, for every lUO-u nit increase in the reorder point, NgC will reduce the order quantity by 100. State which combination of reorder point and order quantity will provide the highest average profit over the next two years. {3 Marks) Use a formula to highlight the reorder point that generates the highest average profit generated in (c). {1 Mark) Repeat {a}, if it is assumed that the monthly demand for FC computers follows a normal distribution with a mean of 350 and standard deviation of 75. {4 Marks)