Question: Based on the information in Problem 2 and 2 a , which of the following statements are accurate regarding the relationship between the EOQ model
Based on the information in Problem and a which of the following statements are accurate regarding the relationship between the EOQ model and the production lot size model? Select all answers that are true.
Group of answer choices
The production lot size EPQ is never larger than the economic order quantity, given the same annual demand, setup or order costs, and holding costs.
The production lot size EPQ is always larger than the economic order quantity, given the same annual demand, setup or order costs, and holding costs.
As the production rate increases, the recommended production lot size decreases.
As the production rate increases, the recommended production lot size increases.
Answer the next questions, Problem parts a and b Attach your Excel file in Problem c
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Problem a Based on the information in Problem compute the minimum cost production lot size for each of the following production rates. Express your answer as a whole number using standard rounding rules.
Annual Production Rateunitsyear
EPQ units units units units
What is the EOQ, given the same parameters? Express your answer as a whole number using standard rounding rules.
EOQ units
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