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DemDeac. is launching widgets, a product that is expected to appeal to a large segment of the population. Each widget has a price of $500. Monthly demand is expected to be normally distributed with a mean of 1250 units, and a Standard Deviation of 350. Labor and material costs are $150 per unit, and the fixed costs at DemDeac are $200,000.
1. What is the expected profit using averages? (2 pts)
2. What is the expected profit using a Monte Carlo analysis with 1000 trials? (1 pts)
3. What is the probability that widgets will lose money? (1 pts)
4. What level of profit are you 95% confident that widgets will exceed? (1 pts)
