Your startup is launching a new gadget which will be manufactured by a third$-$party company.

As you are trying to estimate the profit from this marketing campaign, your team is considering following data points and uncertainties:

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One time contract cost with the manufacturer $=$ ?$$10,000$

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Cost of the gadget $($per unit$)$

Minimum cost $=$ ?$$300$

Most likely cost $=$ ?$$450$

Maximum cost $=$ ?$$500$

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Retail sale price $=$ ?$$550$

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Potential quantity sold

Minimum quantity $100$

Most likely quantity $500$

Maximum quantity $750$

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Refund request due to gadget failure has a mean of $5$ ?for this campaign. Your profit will be the amount sold minus the manufacturing cost. Items refunded due to gadget failure are non$-$salvageable and will impact your profit.

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Using Monte Carlo simulation, provide the following answers

a$.$ ?Provide the distribution of your profit using a histogram.

b$.$ ?What is the average profit?

c$.$ ?What is the minimum, most likely and maximum profit?

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