Six months before its annual convention, the American MedicalAssociation must determine how many rooms to reserve. At this time,the AMA can reserve rooms at a cost of $50 per room. All rooms thatare reserved must be paid for even if they are not used. The AMAbelieves the number of doctors attending the convention will benormally distributed with a mean of 5000 and a standard deviationof 1000. If the number of people attending the convention exceedsthe number of rooms reserved, extra rooms must be acquired at acost of $80 per room. Use a simulation model to determine theexpected cost of the rooms for the convention for the followingreservation levels: 2000, 3000, 4000, 5000, 6000, 7000, and 8000.From the above list of reservation levels, select the optimalnumber of rooms to reserve. Use a simulation with 2000 replicatesand answer the questions below:
a) What is the optimal number of rooms toreserve?  (Click toselect)  2000  3000  4000  5000  6000  7000  8000
(Round the following answers to two decimals)
b) What is the expected minimum cost? $
b) Construct a 95% confidence interval for the expected cost forthe optimal number of rooms to reserve:
