Implement a financial simulation model for a new product proposal and determine a distribution of profits using the provided discrete distributions for the unitcost, demand, and fixed costs. Price is fixed at $1,000. Simulate this model for 50 trials and a production quantity of 140. What is the averageprofit?

Discrete Distributions

Unit Cost

Probability

$400

0.25

$600

0.40

$700

0.25

$800

0.10

Demand

Probability

120

0.20

140

0.55

160

0.25

Fixed Costs

Probability

$45,000

0.20

$50,000

0.50

$55,000

0.30

Simulation Results

11000

-19000

6000

14000

-22000

39000

-13000

34000

6000

-28000

-8000

-22000

-13000

29000

-8000

11000

-33000

9000

-17000

11000

6000

-9000

-8000

34000

6000

6000

-23000

6000

-19000

-8000

6000

-13000

34000

-8000

29000

-8000

34000

-13000

6000

11000

-17000

29000

11000

11000

6000

34000

-28000

34000

29000

-28000

Set up a lookup table for the unit cost.

(Type integers or decimals. Do not round. Use ascendingorder.)

Unit Cost Probability Lower Limit Upper Limit

$400 0.25 $400

$600 0.40 $600

$700 0.25 $700

$800 0.10 $800