Please answer 8.5 with step by step in excel using excel solver

Vesource Bookshet Optix Option Modeling with X Poly Products sex Poy Products Sels Padx + /6/2044/30/4/2/6/10/2/4/2/2/200-206 (b) Suggest a two-parameter nonlinear model for the same relationship and find the parameters that provide the best fit. What revenue does your model predict for 120 hours? Which of the models in (a) and (b) do you prefer and why? 8.4 Curve Fitting (Continued): Revisit the previous exercise but consider a different measure of closeness between the observations (denoted by y) and the predictions (denoted by ax + bi obtained from a linear model with parameters aand b. In particular, supposed prediction errors are measured according to absolute deviations. Thus, for the kth observation of hours (x) and revenue (y), the prediction error is calculated as follows: Error y -ax, -14 Find the parameters a and b that minimize the sum of prediction errors. 8.5 Economic Order Quantity (EOQ): A distributor of small appliances wishes to calculate the optimal order quantity for replenishing its stock of a particular washing machine. Demand for the $200 machine is stable throughout the year and averages about 1000 units annually. Each order involves the cost of transportation, receiving and inspection, accounting for expenses of $500 per order. Holding costs are figured at 20% per year. (a) What order quantity minimizes the annual replenishment cost? (b) How does the optimal cost break down into holding and carrying components? 8.6 EOQ for Multiple Products: In another location, the distributor of the previous problem stocks four different items in common warehouse space. Each item is described by an annual demand rate, a fixed cost per order, a holding cost per year, a unit purchase cost, and a space requirement. The data in the following table describe the four products. Item 1 2 3 4 Demand 5000 10,000 30,000 300 Fixed cost 400 700 100 250 Holding cost 50 25 8 100 nn Aa 50 * for