1.25p a Consider a Production Order Quantity (POQ) Model with 20.000 units of demand per year (based on 250 working days per year); setup cost 22; annual holding costs are 5 per unit. The production rate is 125 units per day. Note: write down the appropriate calculations to support your answers (if you only give the answer without writing down the calculations, you receive no points even if the answer is correct). To minimize costs, how large should each production batch be? 1.25p b How many days are required to produce a batch of optimal size? 1.25p c How long is a complete cycle in the optimized system? 1.25p d Show what happens to the number of production orders per year if (i) production rate p=85 units/day, and (ii) production rate p=81 units/day. What can you conclude about what happens to the number of orders per year, if the production rate decreases