QM72 for Vickline only

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M7A2 #1 A school principal has to schedule buses for students who live in the suburbs. 30 students can use each bus. Records from past years indicate the demand for buses follows a normal distribution with a mean of 2500 and a standard deviation of 250. Operating costs per bus per month follows a uniform distribution with a minimum of $400 and a maximum of $600. Students in the suburbs currently each pay a $15 dollar per month transportation fee. Remember there can be no fractional buses. Build a model of this situation. a. What is the probability the current transportation fee will cover the cost of operating the buses? b. What is the probability the montthly operating loss will exceed $2500? c. What is the probability the operating loss will between $(1000) and $(5000)? d. If the principal wants to be 50% certain the bus system will break even, approximately what monthy transportation fee should he charge? Note: Just use your judgement and re-run the simulation with a few different transportation fees - no need to use Solver to optimize.