Question: 2) Grace Greenberg, production planner for Science and I echnology Labs, in New Jersey, has the master production plan shown in the table below, with

 2) Grace Greenberg, production planner for Science and I echnology Labs,

2) Grace Greenberg, production planner for Science and I echnology Labs, in New Jersey, has the master production plan shown in the table below, with the following additional information: Lead time =1 period; Setup costs =$200; Holding cost =$10 per week; Stockout cost =$10 per week Develop an ordering plan for Grace, and compute the total costs for each plan, using the following techniques: a) Lot-for-lot. b) Fixed Order Quantity rule, where quantity Q is chosen as the EOQ quantity based on given costs. Hint: To compute EOQ, assume the demand rate to be the average demand per week. c) Fixed Order Period rule, where the period is computed as the EOQ divided by the average demand per period (rounded to the nearest integer). d) Which plan has the lowest cost

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