Question: 8. Generate a four-place random number, remove any decimal point and write it here Let that be the annual requirement for a component in number

8. Generate a four-place random number, remove any decimal point and write it here Let that be the annual requirement for a component in number of units per year. If the cost of each unit is $1.75, the set-up and ordering costs are $15, and the holding costs are S.54 per year, what would be the Economic Ordering Quantity for that component? How would the EOQ change if a protective stock of 500 were required

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