The stock of an item is checked at the beginning of each month and production is made so that: Production size = 100 – initial stock Due to limited resources, the required production can only be...

Extracted text: The stock of an item is checked at the beginning of each month and production is made so that: Production size = 100 – initial stock Due to limited resources, the required production can only be completed at the beginning of the next month. Demand follows the pattern: Monthly 10 20 30 40 50 60 70 demand Probability 0.1 0.15 0.25 0.25 0.15 0.05 0.05 Assuming that there are 40 units in stock at the beginning of the first month. Random number generated between 00 and 99 to simulate the demand are: Demand: 63, 55, 56, 39, 97, 15, 84, 52 а. Use the random numbers provided to simulate the system for 8 months. Determine the initial stock, production size, demand, and closing stock for each of the 8 months. b. What is the probability of being out of stock? If each item remains at the end of the month costs $10 for storage. What is the average monthly С. storage cost?