Sanders Manufacturing wants to analyze the potential profit for a new product. Profit depends on the selling price per unit (P), first-year administrative and advertising costs (A), direct labor cost per unit (L), materials cost per unit (M), and first year demand (D). The selling price will be $250 and administrative and advertising costs will be $1,000,000. L, M, and D are uncertain. M is estimated to vary anywhere between $80 and $100; D is estimated to be normally distributed with a mean of 15,000 and standard deviation of 4500 (and should be a whole number); and L can vary from $43 to $47 with the following probabilities:

Labor cost Probability

$43 0.1

$44 0.2

$45 0.4

$46 0.2

$47 0.1

Develop a spreadsheet simulation model in Excel and use a data table with 100 trials to simulate the profit. Clearly summarize the results from your data table for the minimum, maximum, and average profit, and the probability that the profit will be positive.