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Parameters Selling Price Procurement Cost Labor Cost Transportation Cost Model Profit Per Unit begin{tabular}{|r|r|r|r|r|} hline Simulation Trial & Procurement Cost & Labor Cost & Transportation

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Parameters Selling Price Procurement Cost Labor Cost Transportation Cost Model Profit Per Unit \begin{tabular}{|r|r|r|r|r|} \hline Simulation Trial & Procurement Cost & Labor Cost & Transportation Cost & Profit Per Unit \\ \hline 1 & Summary Statistics \\ \hline & 2 & & \\ \hline 3 & \#DIV/0! \\ \hline 4 & 5 & & \\ \hline \#DIV/O! \\ \hline 6 & & \\ \hline \end{tabular} following table. (a) Compute profit (in \$) per unit for the base-case scenario. $ /unit (b) Compute profit (in \$) per unit for the worst-case scenario. $ /unit (c) Compute profit (in \$) per unit for the best-case scenario. $ /unit (d) Construct a simulation model to estimate the mean profit (in \$) per unit. (Use at least 1,000 trials. Round your answer to two decimal places.) $ (e) Why is the simulation approach to risk analysis preferable to generating a variety of what-if scenarios? Simulation will provide of the profit per unit values which can then be used to find of an unacceptably low profit

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