Team Assignment:Will Fence owns a 70-acre large timber and Christmas tree farm. The Christmas farm gets busy in August and September when Will identifies and flags the trees suitable for Christmas season. Starting in October, the flagged trees will be cut, baled, and trucked to the storage yard where they will stay until shipped. The storage yard is situated in an area that offers shade and protection from the wind to maintain the freshness of the tree. The trees are stacked with the tops locked together to keep the sun and wind away from them. Will has just purchased an additional 40 acres and will need to expand his storage yard by 40,000 square feet. The budget for this expansion is $55,000. Will has hired your team to design a process to contract resources to expand the storage yard.Cover the following as requested by Will: *****Identification of any risks associated with procuring these resources and explanation of the role of risk management in this process.****** Communicate the necessary information to Will as a PowerPoint presentation; all everyone would need to do is create their bullet points and speakers notes. "100 to 300 words please"

Question Set 1.You are an inventory management consultant. You have been hired by Walmart to help optimize inventory management for their Dairy department. Your immediate task is building a Monte Carlo simulation for sales of Milk, Eggs and Cheese. The probabilities of monthly demand levels are:ProbabilityMilkEggsCheese0.101742882580.102103082890.102343203020.152503403200.152683523420.102903663660.053083823880.053244034000.103484404210.10384480454The unit revenues and costs are given in the table below.ProductUnit RevenueUnit CostMilk$2.76$1.21Eggs$1.49$0.78Cheese$3.89$1.98Each product has a separate display with an associated fixed monthly cost:ProductFixed Monthly Display CostMilk$287Eggs$199Cheese$4191. (5pts) Build a table for the cumulative probability distribution for demand. It should be set up for use with the VLOOKUP function, with the cumulative probabilities on the left.2. (15pts) Build a table for tracking sales over one year (Jan 2020 - Dec 2020) with separate columns for Milk, Eggs, and Cheese. This will just be the randomized demand value for each item for each month (like in 10.1.2 from the lab exercise on Monte Carlo simulations). For this assignment, assume all demand is actually met (that is, sales = demand) and there is no other inventory loss except through sales.3. (10pts) Build a table for tracking total revenues, costs, and profit for the year. This table should use the information provided in your answer to part 2, above. Your table should calculate values for:Total Revenue (based on the combined sales of all three products over the year)Total Cost (also based on combined sales, and including cost of goods sold and fixed costs)Profit/Loss (total revenue minus total costs)4. (10pts) Create a data table to generate 50 runs of the simulation and calculate the average profit of the 50 simulation runs. As in previous assignments, this must be an actual data table structure to earn full credit. Calculate the average profit over the 50 simulation runs.