A building contains 1000 light bulbs. Each bulb lasts at most 5 months. The company maintaining the building is trying to decide whether it is worthwhile to practice a “group replacement” policy....

A building contains 1000 light bulbs. Each bulb lasts at most 5 months. The company maintaining the building is trying to decide whether it is worthwhile to practice a “group replacement” policy. Under a group replacement policy, all bulbs are replaced every T months (where T is to be determined). Also, bulbs are replaced when they burn out. Assume that it costs $0.05 to replace each bulb during a group replacement and $0.20 to replace each burned-out bulb if replaced individually. How could you use simulation to determine whether a group replacement policy is worthwhile?