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Use the simulation model to compute the profit for each trial of the simulation run ( noting that Strassel's profit is $ 0 if he

Use the simulation model to compute the profit for each trial of the simulation run (noting that Strassel's profit is $0 if he does not win the bid). With maximization of profit as Strassel's objective, use simulation to evaluate Strassel's bid alternatives of $124,000, $134,000, or $144,000. What is the expected profit (in dollars) for each bid alternative? (Use at least 5,000 trials. Round your answers to the nearest dollar.)

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