Estimates of the Financial Information for a New Product Show

Essay

Estimates of the financial information for a new product show the following information: $$\begin{array} { c c l l } \text { Units Sold } & \text { Probability } & \text { Fixed cost } & \$ 8,000 \\600 & .35 & \text { Variable cost } & \$ 6 / \text { unit } \\800 & .45 & \text { Revenue } & \$ 22 / \text { unit }\end{array}$$ Use the random numbers .51, .97, .58, .22, and .16 to simulate five trials. What is the net profit for each trial?