Please read each part thoroughly. All work must be done in Excel, show work and explain. I greatly appreciate your time.

Part A: Review the Spreadsheet Model - I have created a spreadsheet model for this problem. Review the key parts (additional calculations and profit calculations) and make sure you understand what each of the Excel formulas are doing in this problem, especially if the files you submitted for Week 2 were not correct! - The best way to make sure you understand how the spreadsheet model works is to change the number of copiers from 3 to a few different values to see how the amount sold cell works. - Notice that demand I have demand listed as 1500 like Part 1 of Week 2. Since demand is the uncertain variable, we will adapt this to allow it to follow some probability distribution. Part B: Create a Basic Simulation Model - In reality, daily demand will not be 1500. It is an uncertain value that could range from 500 to 2500 based on the probability distribution provided. Assume that the company has selected the number of copiers to be 3 . - Create a simulation model with 500 replications. In each replication, demand will be randomly drawn from the discrete probability distribution provided and profit must be calculated. - HINT: You should be able to follow along on Tech Demo Videos from this week to create these simulations. - I recommend using the data tables as it will make the rest of the assignment easier in my opinion! - Report the mean, median, standard deviation, max, and min of the values of profit for your simulation. The videos I mentioned above will help you with this! Part C: Use a Two-Way Table with a Simulation to Evaluate Possible Production Levels Tasks - The easiest thing to do is start with the simulation you created in Part B. You can copy and paste most of that to a new sheet to perform the calculations here. - Using the probability distribution provided in the problem, create a simulation model with 500 replications. The simulation model should use a two-way data table to evaluate different amounts of copiers. Test 2,3,4,5, and 6 . - Calculate the mean, standard deviation, maximum, and minimum values of profit for each of the copier levels based on the simulation. Part D: Create a Simulation Model with a Normal Distribution - In this part you will reproduce either work you did in parts B or in Part C - Create a simulation model with 500 replications. In each replication, demand will be randomly drawn from a normal distribution with mean 5,500 and standard deviation 2,300 and profit must be calculated. - You can either produce a simulation model for a single level of copiers like 3, like you did in Part B, or produce a simulation using a two-way data table for various levels of copiers like you produced in Part C of this assignment. - Calculate the mean, standard deviation, maximum, and minimum values of profit based on the simulation. Workspace: Calculate Annual Copies Sold \begin{tabular}{l|l|l|} \hline 16 & Maximum Annual Production & 300000 \\ \hline 17 & Estimated Annual Demand & 547500 \\ \hline 18 & Actual Amount of Copies Sold & 300000 \\ \hline 19 & & \end{tabular} Objective: Calculate Annual Profits \begin{tabular}{l|} \hline 21 \\ \hline 22 \\ \hline 23 \\ \hline 24 \\ \hline 25 \\ \hline 26 \\ \hline 27 \\ \hline 28 \\ \hline 29 \\ \hline 30 \\ \hline 31 \\ \hline 32 \\ \hline 33 \\ \hline 34 \\ \hline 35 \\ \hline 36 \\ \hline 37 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Revenue & $30,000.00 \\ \hline Store Costs & $4,800.00 \\ \hline Total Copier Rental Cost & $15,000.00 \\ \hline Total Variable Cost & $9,000.00 \\ \hline & \\ \hline Profit & $1,200.00 \\ \hline \end{tabular}