OUESTION TWO: $(5$ MARKS$)$

Anticipated demands for a four$-$period planning horizon are $23,86,40,$ and $12.$ The setup cost is

$$300$ and the holding cost is h$=$$$3$ per unit per period.

a$)$ What lot sizing do you obtain from the EOQ formula?

b$)$ Determine the lot sizes using the Silver$-$Meal heuristic.

c$)$ Determine the lost sizes using the least unit cost heuristic.