The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The selling price for the product will be $45 per unit. Probability distributions for the purchase cost, the labor cost, and the transportation cost are estimated as follows:

a. Construct a simulation model to estimate the average profit per unit. What is a 95% confidence interval around this average?

b. Management believes that the project may not be sustainable if the profit per unit is less than $5. Use simulation to estimate the probability that the profit per unit will be less than $5. What is the 95% confidence interval around this proportion?

Will you please please please show the steps to take in Excel to get the answer?

ProcurementCost($)101112Probability0.250.450.30LaborCost($)20222425Probability0.100.250.350.30TransportationCost($)35Probability0.750.25