Create a decision model for an inventory problem.

Solve #1 step by step. And please show all the necessary steps based on the instructions.

Compare the Solver solution when the objective is to Min Total Lost Sales costs versus the solution when the objective is to Maximize Profit. 1 Question \#1 Use the given model notes to complete the formulas in the cells and setup the Solver model. Record the total order quantity for each objective function solution. Which objective function results in ordering more? Make sure to name all ranges before creating formulas and setting up solver. Remember to clear decision variable values before re-running the Solver model for a different objective. INVENTORY \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline Product & Current Inventory & Expected Demand & Order Quantity & Updated Inventory & \begin{tabular}{|c|} Actual Sales \\ \end{tabular} & Lost Sales & Order cost & Lost Sales Cost & Sales Price \\ \hline tshirt & 15 & 22 & & & & & $7.31 & $2.92 & $13.14 \\ \hline notebook & 9 & 17 & & & & & $6.67 & $3.36 & $12.77 \\ \hline mug & 13 & 10 & & & & & $5.84 & $2.53 & $9.90 \\ \hline pencils & 26 & 33 & & & & & $6.85 & $2.53 & $12.89 \\ \hline highlighters & 30 & 38 & & & & & $7.13 & $2.44 & $11.18 \\ \hline \end{tabular} Decision Variables = number to order (integer and >=0 ) Updated Inventory = current inventory + expected demand Actual Sales = min (expected deman, updated inventory) Total Order Cost = sumproduct (order cost, number to order) Total Holding Cost = sumproduct (lost sales cost, lost sales) Total Revenue = sumproduct (sales price, actual sales) Constraints: total order cost $500.00 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Objective & Min Total Lost Sales Cost & Max Profit \\ \hline Total Order Quantity & & \\ \hline \end{tabular}