ON EXCEL WITH EQUATIONS Campus Voice is a monthly magazine that contains campus and local news along with articles writt

[answerhappygod]

ON EXCEL WITH EQUATIONS
Campus Voice is a monthly magazine that contains campus
and local news along with articles written by students. It is
published in print and circulated on campus by a student club.
Based on historical data the editors of the magazine estimate that
the monthly demand is a random variable showing a normal
distribution with a mean of 2,400 copies and a standard deviation
of 500. The cost of publishing a copy of this magazine fluctuates
from month to month however can be represented by a uniform
distribution with values ranging from $3.25 to $4.00 per copy. The
fixed cost for managing the magazine can be represented by a
uniform distribution ranging between the values of $750 to $1,250.
The magazines are sold on campus for $5 a copy through a group of
student vendors who sell the magazine out of their backpacks while
on campus. These student vendors are paid $0.50 for each copy sold.
All the unsold copies at the end of the month are purchased back by
the university for $2.25 a copy and distributed to local public
schools.
Develop a spreadsheet simulation model (using 1,000
trials) for this student club magazine to answer the following
questions:
What is the estimated average profit if the student club
decides to order 2,500 copies of the magazine?
The other monthly activities of the student club which
typically costs about $500 depend on the profit turned over from
the magazine. What is the probability that monthly profit from the
magazine is greater than $500?
Create a frequency distribution (using the FREQUENCY()
function) and a histogram (using a column chart) for the profit.
For your calculations use the minimum and the maximum expected
profit values to determine a reasonable range and use increments of
$500.
The student club is considering an order quantity of
3,000 copies per month as an alternative to their current order
quantity of 2,500 copies. What is the probability that the profit
from order quantity of 2,500 units will be greater than the profit
from the order quantity of 3,000 units?