Please answer the following question by using excel formulas and add-ins. Thank you

FINANCIAL SERVICES, Bidding Example The cable company CC is bidding for the one year financial servicee contract to a large brokerage house. The service would include data base services and network services The cost of data base services is most likely to be $450K, but could go as high as $500K, or as low as $250K The network services are even harder to estimate. However, during previous projects similar type of networks |were provided at the following costs Network Costs in thousands of $ $320 $323 $298 $387 $346 $316 $326 $394 1 2 4 5 6 7 There is only one competitor Globtel, and it is estimated that their bids for such projects have normal distribution with mean $900K and standard deviation $50K bid by Globtel bid by CC networks cost data base cost profit a) CC is considering a bid of $950K. Simulate this bid. Comment on this bid. What is the likelihood of having a loss b) Run parametric simulation with the following CC bid values (in thousands of $) $850 $1,000 What can you conclude from your results? Advice on the bidding amount. Justify your answer. $800 $900 $950 FINANCIAL SERVICES, Bidding Example The cable company CC is bidding for the one year financial servicee contract to a large brokerage house. The service would include data base services and network services The cost of data base services is most likely to be $450K, but could go as high as $500K, or as low as $250K The network services are even harder to estimate. However, during previous projects similar type of networks |were provided at the following costs Network Costs in thousands of $ $320 $323 $298 $387 $346 $316 $326 $394 1 2 4 5 6 7 There is only one competitor Globtel, and it is estimated that their bids for such projects have normal distribution with mean $900K and standard deviation $50K bid by Globtel bid by CC networks cost data base cost profit a) CC is considering a bid of $950K. Simulate this bid. Comment on this bid. What is the likelihood of having a loss b) Run parametric simulation with the following CC bid values (in thousands of $) $850 $1,000 What can you conclude from your results? Advice on the bidding amount. Justify your answer. $800 $900 $950