Q1. What is the optimal number of Jackets that Jim should order? Jim's business is doing well and he is expanding his collection to hats and shoes. The demand for both these items also varies with winter in the following manner: Winter: Mild Average Cold Harsh Hats: 250 325 600 300 Shoes: 150 175 200 225 Frequency: 0.2 0.4 0.3 0.1 With additional item types, Jim also has to worry about his store capacity. His store has a total storage capacity of 200 cu ft. The buying price, selling price, salvage price and the storage volumes are given in the table. Item Buying Price Selling Price Salvage Price Storagevol (cu.ft.) Jackets 100 250 50 0.5 Shoes 60 100 30 0.2 Hats 30 80 20 0.1 Q2. Given the space considerations, profit margins, and demand uncertainty, how many of each item should Jim order? Use simulation to simulate future scenarios of the demand and use optimization with space constraints to determine how many of each item to order. Please attach the excel sheet and a report detailing your approach. Consider now a salvage buyer (buyer who buys from Jim after the season), who is offering a bundle price of $80 for all three items. That means, if there are 5 jackets, 6 shoes and 8 hats left, you will only be able to sell 5 bundles. Remaining shoes and hats are thrown away. Q3. In such a salvage setting, please solve the problem and determine how many Jim should order for each type.