Use the following cumulative probability below (in cells A1 to B7 of an Excel worksheet) to answer the three questions below The following function is entered to create a random demand function VLOOKUP(RAND(),A1 B7,2) Be sure to label answers a, b and c A B 1 Cumulative probability Demand 2 0 00 1000 3 0 15 1200 4 0 25 1300 5 0 45 1450 6 0 75 1500 7 0 90 2000 a Given the VLOOKUP function above, what is the probability of demand equal to 1450 b Given the VLOOKUP function above, what is the probability of demand equal to 1250 c Given the VLOOKUP function above, what is the probability of demand equal to 2000

Question: Use the following cumulative probability below (in cells A1 to B7 of an Excel worksheet) to answer the three questions below. The following function is

Use the following cumulative probability below (in cells A1 to B7 of an Excel worksheet) to answer the three questions below. The following function is entered to create a random demand function

=VLOOKUP(RAND(),A1:B7,2)

Be sure to label answers a, b and c.

	A	B
1	Cumulative probability	Demand
2	0.00	1000
3	0.15	1200
4	0.25	1300
5	0.45	1450
6	0.75	1500
7	0.90	2000

a. Given the VLOOKUP function above, what is the probability of demand equal to 1450?

b. Given the VLOOKUP function above, what is the probability of demand equal to 1250?

c. Given the VLOOKUP function above, what is the probability of demand equal to 2000?

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