Problem 3. Bin-packing Problem Consider the bin-packing problems. There are seven items with the volume as follows: Item ID 1 2 3 4 5 6 7 Volume 0.2 0.5 0.4 0.7 0.1 0.3 0.8 3-1. Using First Fit algorithm, please find the number of vehicles needed to deliver all of them. 3-2. Using First Fit Decreasing algorithm, please find the number of vehicles needed to deliver all of them. 3-3. Are results of 4-1 and 4-2 different? Explain. 3-4. Formulate this problem using Integer Programming (IP). Problem 4. Inventory Model 4-1. (Newsvendor Problem) Assume that the landed cost of each hot-pink, faux-leather biker jacket is $200 (i.e., the cost to purchase the item, delivered). The jackets sell for $350 each. In March 2013, any remaining jackets will be deeply discounted for sale at $100 each. 4-1-1. What is ? 4-1-2. What is co? 4-1-3. What is CR? 4-1-4. Assume that the demand follows Normal (11000, 2875). What is the optimal order quantity (Q)? 4-1-5. What is a(Q)? 4-1-6. What is B(Q)? 4-2. (Economic Order Quantity) J&M Distributors is a supplier of consumer electronics and computer gear to big box retailers. Annual demand for one particular item at J&M, WallShaker surround speakers, is 16,000 units, which occurs at a relatively constant rate throughout the year (comprising 365 sales daysJ&M never closes, a matter of pride for its hard-charging CEO). J&M follows a reorder point-order quantity inventory policy. The company estimates that its cost of placing an order is approximately $25, covering both the administrative costs of placing the order and the labor cost of receiving and stocking the item. Given the relatively high costs of obsolescence for retail electronics goods, J&M uses an annual inventory holding cost rate of 45%. J&M purchases WallShaker speakers from its distributor for $120 per unit (where the "unit" is a set of speakers). 4-2-1 What is the Economic Order Quantity (EOQ)? 4-2-2 If you order Q = 180, how much will the total cost be increased/decreased