Question: Problem 3. Joe's Camera shop has a favorite model that has quarterly sales of 100 units. The a cost to place an order to replenish

Problem 3. Joe's Camera shop has a favorite model

Problem 3. Joe's Camera shop has a favorite model that has quarterly sales of 100 units. The a cost to place an order to replenish inventory is $20 per order, and annual holding cost is $10 per unit per year. Assume the store is open 320 days per year. Keep all your answers in two decimal places. a. What is the economic order quantity? b. What is the optimal number of days between orders? c. If ordering cost increases, what will happen to EOQ? If holding cost increases, what will happen to EOQ? (please discuss it without any calculation) d. What is the total cost of ordering and holding? Are these two costs the same? If yes, why

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