Newsboy or newsvendor problem is a well-known problem for single period inventory models of seasonal products. A newsboy sells papers on a street corner. The demand is uncertain, and he does not know how many papers will be sold each day. The newsboy must decide how many papers to buy from his supplier. If he buys more papers than demand, he is left with unsold papers that have no or less value at the end of the day, and he loses money. If he buys too few papers than demand, he loses the opportunity of making a higher profit. A local organizing committee plans to sell specially designed coins for 100.Anniversary of the Turkish Republic Day. Since the coins are designed for this special occasion, the value of the coin will be decreasing after this important day. The gold coin will cost $400, and a sale price of $900 is estimated (they will make $500 profit per coin). The unsold coins will be returned to the supplier with a price of $100 (they will lose $300 profit per coin) as it will be difficult to sell these products as a special logo will be on it. There two different estimation for the demand. One organizer (Scenario A) claims that the demand for the coins will be between 1000 and 2000 equally likely. Another organizer (Scenario B) claims that the demand for the coins will be between 1000 and 2000 but with a continuous function of f(D)=2D400. The organizing committee believes that this is a variant of newsboy problem. In this project, you will analyze the problem and propose a solution for the conference organizing committee. The system can be modeled mathematically considering the uncertainty in demand and given conditions of both demand and ordered quantity. To complete the project, work on the tasks described below. As you complete each part, show your work and carefully describe how you arrive at your final answer. The methods and conclusions need to be clear when sharing your results with management. Task 1 Please help the organizing committee determine the optimum quantity of coins for both Scenario A and B to order given that demand is uncertain. Task2 The organizing committee believes that there might be a shortage of coins if the demand is more than expected. Please find the expected number of shortages just for Scenario A