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Use the profit model, implement a financial simulation model for a new product proposal and determine a distribution of profits using the discrete distributions below
Use the profit model, implement a financial simulation model for a new product proposal and determine a distribution of profits using the discrete distributions below for the unit cost, demand, and fixed costs. Price is fixed at $1,000. Unit costs are unknown and follow the distribution: Demand is also variable and follows the following distribution: Fixed costs are estimated to follow the following distribution: Experiment with the model to determine the best production quantity to maximize the average profit. Would you conclude that this product is a good investment
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