Develop a worksheet simulation for the following problem. The management of Madeira Manufacturing Company is considering the introduction of a new product. The fixed cost to begin the production of the product is 30,000 dollars. The variable cost for the product is uniformly distributed between 16 and 24 dollars per unit. The product will sell for 50 dollars per unit. Demand for the product is best described by a normal probability distribution with a mean of 1200 units and a standard deviation of 300 units. Develop a spreadsheet simulation similar to the example given during our synchronous session. Use 500 simulation trials to answer the following questions: a. What is the mean profit for the simulation? b. What is the probability the project will result in a loss? c. What is the probability the project will result in a profit? d. What is your recommendation concerning the introduction of the product? Note: create an Excel model solution worksheet based on the given problem. Attached a copy of your excel file for your submission.

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