Question: 3. (Total 25 points) The demand for chair is 2000 per month. Each chair costs $55. The ordering cost per order is $30. The monthly

3. (Total 25 points) The demand for chair is 2000 per month. Each chair costs $55. The ordering cost per order is $30. The monthly holding cost per chair is 0.8 dollars. (a) (8 points) Compute EOQ. (b) (3 points) How many orders will be placed in a YEAR if EOQ is used for ordering quantity? (c) (points) What will be the total cost per month by ordering a quantity equal to EOQ every time (c) (7 points) What will be the total cost per month by adopting a policy of ordening 500 chairs per order instead of ordering LOO

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