loves$-$R$-$Us specializes in selling leather gloves that cost $$40\mathrm{.}00$ each and sell for $$70\mathrm{.}00$ during the winter season. Any unsold gloves are discounted and sold at $$30\mathrm{.}00$ each. The demand for gloves typically ranges between a minimum of $700$ and a maximum of $1200$ with an equal probability in this range. The owner needs to decide at the end of the spring season on how many gloves to order in order to maximize profits. The overseas supplier of Gloves$-$R$-$Us requires ordering the gloves in lots of $100.$

Note: this assignment is almost identical to Inventory Simulation Example $2$ that is described in this week.

How many gloves should Gloves$-$R$-$Us order to maximize expected profit? Note: this problem may be solved using either OptQuest or the Decision Table tool. Make sure to embed any corresponding solution charts $($e$.$g$.,$ OptQuest chart, Forecast chart$)$ in the submitted Excel worksheet.

What is the expected profit?

What is the probability that Gloves$-$R$-$Us will generate more than $$30,000$ in profit?