Question: 2. Write down the formulas used in Quantity Discount Model and the four steps of using Quantity Discount model to solve an inventory management problem.

2. Write down the formulas used in Quantity Discount Model and the four steps of using Quantity Discount model to solve an inventory management problem. Suppose that the D=3,000, S = $36, 1= 0.2, and Unit price P = $3. Find the optimal contract based on Quantity Discount model. Show your work. Contract Number Discount Quantity Discount (%) 1 0 to 999 no discount 2 1,000 to 1,999 5 3 2,000 and over 10

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