New Product Simulation uson Profit - Demand" Spiling Price Per Unit - Variable Cost per swill - Fined Costs new iMot . Multcin TriahOPEN THE EXCEL FILE INCLUDED WITH THESE INSTRUCTIONS. STEP 1) Calculate the Average (Expected) Prots based on average (expected) input values. a. In cells B20:F20 in the spreadsheet, you will see places to enter the average (expected) amounts for each of the inputs. Using the information given at the end of rows 5-8, populate the cells with the correct values. h. Then use the prot equation in row 10 to calculate the average (expected) prot in cell F20. STEP 2) Populate ce1151201L20 with the formulas appropriate for the random variables specied at the top of the spreadsheet. a. Use the examples provided in learning materials to help you use the correct formulas for the normal, discrete uniform, and continuous uniform random variables. h. Then calculate the prot equation based on these random numbers in cell M20 (again using the prot equation in row 10). Note: these values will and are supposed to change when you press enter or make a change to the spreadsheet. They are \"volatile\" calculations. STEP 3) Copy the formulas in cells 120:M20 to the yellow cells in rows 27126. This will simulate 100 possible future outcomes based on the random numbers we have estimated. [Again, these will be volatile and will change frequently. That is OK] STEP 4) Summarize results of trial runs in cells T26:T30 a. Use Excel formulas/functions to calculate the Minimum, Maximum, Average, and Standard Deviation of the 100 trial prots you generated. 13. Determine what percentage of the trial runs have negative prots. Hint: rst use a =COUNTIF rnction to determine how many trials are negative, then divide by 1 00. STEP 5) Calculate the relative frequency distribution of results in cells U352U42. Remember that the relative frequency is just the percentage (rather than the count) of trials with values in that range. STEP 6) Draw a bar graph of the relative frequency distribution in U35:U42. a. Insert a bar chart by rst highlighting the Relative Freq/Percentages b. After creating the chart, use a right click and choose \"Select Data\". Then point to the "Class" column (cells R352R42) for the Horizontal (Category) Axis labels. STEP 7) Answer the discussion question (also shown in the Excel sheet) by entering text directly into the boxes provided in in cells Q742U78. Discuss the Minimum, Maximum and Percent of Prots that were negative. Use these values to make a recommendation as to whether to proceed with this new product development