Question: a) What is the economic order quantity (EOQ) model? Write equations for Annual Ordering Cost and Annual Holding Cost. b) Consider a firm has maintained

a) What is the economic order quantity (EOQ)

a) What is the economic order quantity (EOQ) model? Write equations for Annual Ordering Cost and Annual Holding Cost. b) Consider a firm has maintained its daily inventory levels, as shown in the table below. What is the daily average and the average inventory level

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