17. A company has planned to introduce a new product in the market, for which it is not certain about the selling price, the first year sales off-take, the variable cost, and the fixed cost on new facilities. Probabilistic estimates of these parameters have been made as detailed below. Using the random numbers given below, simulate the possibilities for 12 iterations and compute the first Year profit volume. From the simulated results, find the probability that

(i) the company will not break-even on this product in the first Year.

(ii) the profit volume of the first Year will be more than Rs 3 lakh.

(iii) the profit volume will not be more than 4 lakh.

Use the following random number digits sequentially starting from first digit on first row. (Do not omit any digit).

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Selling price per unit Probability Sales off-take Units Probability 45,000 0.20 Rs 25 0.55 50,000 0.35 55,000 0.45 (40,000 0.35 Rs 30 0.45 45,000 50,000 0.40 0.25 Variable cost Probability Fixed cost Probability per unit Rs 10 0.25 Rs 3 lakh 0.35 Rs 12 0.35 Rs 4 lakh 0.45 Rs 14 0.40 Rs 5 lakh 0.20