2. QUANTITATIVE (choose 2 of 3) - Using the data below for a widget find the EOQ (Q*), reorder point (R) and the total annual cost (TC) associated with the economic order quantity, and the reorder point. Draw a picture that shows inventory level over time (that is, the saw tooth pattern we showed in class) clearly showing L, EOQ (same as Q*) and R (assuming no variation in demand). Annual Demand D: 16,000 units and constant (no variation, in demand ) Weeks Operating: 52 weeks/year Ordering Costs C.: $120/order Holding Costs Ch $3/unit/year (20% of $15 item cost) Lead-Time: 1.5 weeks After calculating costs, EOQ and R, answer the following based on your student number: b. If Y is odd - if you ordered a quantity (Q) that was 20% less than the EOQ (Q*), would the holding cost be higher or lower? (no calculation needed, simply say higher or lower)