The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new produ

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The management of Brinkley Corporation is interested in usingsimulation to estimate the profit per unit for a new product. Theselling price for the product will be $45 per unit. Probabilitydistributions for the purchase cost, the labor cost, and thetransportation cost are estimated as follows:
(a)
Compute profit per unit for the base-case, worst-case, andbest-case scenarios.
Base Case using most likely costsProfit =$ /unitWorstCaseProfit =$ /unitBest CaseProfit=$ /unit
(b)
Construct a simulation model to estimate the mean profit perunit. (Use at least 1,000 trials.)
$
(c)
Why is the simulation approach to risk analysis preferable togenerating a variety of what-if scenarios?
Simulation will provide ---Select--- an exactamount a distribution of the profit per unit values whichcan then be used to find ---Select--- anexample the probability of an unacceptably lowprofit.
(d)
Management believes the project may not be sustainable if theprofit per unit is less than $5. Use simulation to estimate theprobability the profit per unit will be less than $5. (Round youranswer to three decimal places.)
Show your work for parts (b) and (d). Upload your spreadsheet.(Submit a file with a maximum size of 1 MB.)