Question

Read this article. Use Excel to solve the following problem using a...

1. Read this article.
2. Use Excel to solve the following problem using a Monte Carlo simulation:

A small supermarket is trying to determine how many copies ofPeoplemagazine they should order each week. They believe their demand forPeopleis governed by the following discrete random variable:

Demand 15 20 25 30 35

Probability 0.10 0.20 0.30 0.25 0.15

The supermarket pays 50cents for each copy ofPeopleand sells it for 75 cents Each unsold copy can be returned for 5 cents. How many copies ofPeopleshould the store order?