In preparing for Christmas, Tim will be producing a high-quality blended malt scotch whisky. A blended malt scotch whisky is made from a blend of two or more single malt scotch whiskies from different distilleries. The fixed cost to produce this blended malt scotch whisky will be $250,000. The variable cost includes the material, labour and shipping cost is $25 per bottle. During the Christmas season, Tim will sell each bottle of the blended malt scotch whisky for $45. If Tim overproduces the whiskies, the excess bottles of whiskies will be sold in January through a third- party distributor who has agreed to pay Tim only $10 per bottle. Demand for Tim's high-quality blended malt scotch whisky in the upcoming Christmas season is uncertain. The forecast analysts advised that a normal probability distribution is a good representation of the demand. The forecast analysts also informed Tim that the expected sales of his blended malt scotch whisky would be 40,000 bottles with a standard deviation of 10,000 bottles.

A. What is the probability that the demand will be greater than 40,000 bottles?

B. What is the probability that the demand will be greater than 50,000 bottles?

C. What is the probability that the demand will be between 40,000 and 50,000 bottles?

D. Using the random numbers below, construct a simulation model based on the above scenario (with net profit as the aim), with 5 trials, answer the following questions. In your simulation model for Tim's high-quality blended malt scotch whisky, Tim decided to use a production quantity of 50,000 bottles.

a) What is your simulation model's average and standard deviation for the net profit?

b) Assume Tim sticks with 50,000 bottles as the production quantity. What is the probability of a surplus for his high-quality blended malt scotch whisky during Christmas?

Note: You must use the random numbers below from left to right to simulate each trial. You must complete one simulation trial before moving on to the next one. It may also mean you will not use all these random numbers below. 0.88 0.31 0.52 0.92 0.17 0.37 0.24 0.79 0.41 0.08