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Replacement Parts Cost are determined to be $5000 for fixing the machinery. There is a 10% random possibility for this to occur. For each month
Replacement Parts Cost are determined to be $5000 for fixing the machinery. There is a 10% random possibility for this to occur. For each month in row 21, write a formula using the following template to randomly enter a replacement cost for a breakdown. EXAMPLE: =IF(Rand()<.1, replacement parts cost, 0). Ensure your replacement cost is correct. Variable costs for each month are a uniform Randomized value between $6 on the low end and $8 on the high end.
Please provide Excel formula.
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