Write a report along the following guidelines. Please make sure your policy suggestions are based on simulations with at least 1000 iterations for each case. You are required to use @Risk.

  

Question:
Write a report along the following  guidelines. Please make sure your policy suggestions are based on  simulations with at least 1000 iterations for each case. You are  required to use @Risk.

1. Provide a description of your  spreadsheet model. Explain how each problem input was computed and  modelled using the appropriate distribution. Also provide a description  of how you compute the various characteristics of the system (total  demand, the number of cars sold, the number of unsatisfied customers,  etc).

2. If you are restricted to  importing the same number of cars every month, what would be your  optimal strategy? Describe the profit and other relevant characteristics  of this policy.

3. If you are allowed to import a  different number of cars every month, what would be your optimal  ordering policy? Describe the profit and other relevant characteristics  of this policy. Compare this policy to that in (2).

4. Assume you decided to take orders 6 months ahead and that  the number in the first row of the above table were the actual demands.  What would be your optimal ordering policy? Would your mean profit  increase?