1. The management of Madeira Manufacturing Company is considering the introduction of a new product. The fixed cost to begin the production of the product is $35,000. The variable cost for the product is expected to be between $16 and $27 with a most likely value of $25 per unit. The product will sell for $65 per unit. Demand for the product is expected to range from 600 to 1600 units, with 1400 units the most likely demand.

   	Let	c =	variable cost per unit
   		x =	demand

   1. Develop the profit model for this product. Enter your answer in the form of an expression. (Example: (c+10)x+800) Profit =
   2. Provide the base-case, worst-case and best-case analyses. For those boxes in which you must enter subtractive or negative numbers use a minus sign. (Example: -300)

      	Base case:	Profit =	$ fill in the blank 2
      	Worst case:	Profit =	$ fill in the blank 3
      	Best case:	Profit =	$ fill in the blank 4

   3. Discuss why simulation would be desirable. A simulation

      providesdoesnt provide

      the probability of each scenario.