!!! DO NOT USE CHAT GPT PLEAZE - ALSO IF YOU CAN COMPUTE BY EXCEL, IT WOULD BE GRATEFUL. THANK YOU :)

Case 1. (Show all your works: including all computational procedures and details) Please refer to the table 1. below for the average annual demand of the popular Valentino Salvatore (VS) wallet, which decreases as the price increases. The demand follows a normal distribution, and the standard deviation of monthly demand is at the 10% level of the annual average demand. For example, when the product price is P=$800, the standard deviation of monthly demand becomes 1000.1=10. The demands are independent. The production cost of the VS wallet is C=$600, and the order setup cost is S=$4,000, which is independent of the order quantity. The annual inventory holding cost is H=$120. The lead time is one month. The Z-value determined to achieve the desired service level is Z=1.65. (a) For each price, determine the order quantity that maximize the average (expected) annual profit and compute the expected annual cost. Fill in your answers to the following Table 2. Determine the optimal price. Tahlo 0 (b) The supplier offers a quantity discount when we order more than 185 units (i.e., if we order Q>185 ) of VS wallet. The discounted cost is C=$595. The annual holding cost correspond to the discounted cost is H=$119. Decide whether to order a large quantity of the product to receive quantity discount or to order only the economic order quantity. For each price, determine the (expected) annual profit and compute the expected annual cost. Fill in your answers to the following Table 3 . Determine the optimal price. Case 1. (Show all your works: including all computational procedures and details) Please refer to the table 1. below for the average annual demand of the popular Valentino Salvatore (VS) wallet, which decreases as the price increases. The demand follows a normal distribution, and the standard deviation of monthly demand is at the 10% level of the annual average demand. For example, when the product price is P=$800, the standard deviation of monthly demand becomes 1000.1=10. The demands are independent. The production cost of the VS wallet is C=$600, and the order setup cost is S=$4,000, which is independent of the order quantity. The annual inventory holding cost is H=$120. The lead time is one month. The Z-value determined to achieve the desired service level is Z=1.65. (a) For each price, determine the order quantity that maximize the average (expected) annual profit and compute the expected annual cost. Fill in your answers to the following Table 2. Determine the optimal price. Tahlo 0 (b) The supplier offers a quantity discount when we order more than 185 units (i.e., if we order Q>185 ) of VS wallet. The discounted cost is C=$595. The annual holding cost correspond to the discounted cost is H=$119. Decide whether to order a large quantity of the product to receive quantity discount or to order only the economic order quantity. For each price, determine the (expected) annual profit and compute the expected annual cost. Fill in your answers to the following Table 3 . Determine the optimal price