Question: Please answer 7b included the labelled diagram and graph please. 7. Tom's Tools (TT), located in Guelph, is a large online retailer of wrenches. TT

Please answer 7b included the labelled diagram and graph please.

7. Tom's Tools (TT), located in Guelph, is a large online retailer of wrenches. TT operates 300 days a year and sells an average of 440 pipe wrenches a day. They order wrenches from a manufacturer in China. After ordering, wrenches are always shipped and arrive within exactly 18 days. Annual holding costs per wrench are estimated to be 15% of the cost of wrenches. The ordering cost is $250 per order. The cost of a wrench s $15. a. What is the economic order quantity (EOQ) for TT? What is the average inventory? What is the expected total number of orders per year? b. What are the total annual holding costs of the stock for TT? What are the total annual ordering costs? Using an appropriately labelled diagram, graph setup cost, Operations Management, FARE*3310 - Winter 2022: Assignment 2 holding cost, and total inventory cost, and show the optimal economic order quantity (EOQ) and the minimum total inventory cost

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