Question: Problem 4 (25 pts): For the inventory system of Model 5-4, set up a PAN comparison to investigate the aver-age total cost resulting from each

Problem 4 (25 pts): For the inventory system of

Problem 4 (25 pts): For the inventory system of Model 5-4, set up a PAN comparison to investigate the aver-age total cost resulting from each of the following (S, S) pairs: (20,40), (20,60), (20,80), (20, 100), (40,60), (40, 80), (40,100), (60, 80), (60, 100). (80, 100). Suppose the setup cost is C. Repeat the above process for C = 20, 30, ...,90, 100. Identify the (s*, S*) pair associated with the minimum average total cost for each c. Show your results by making two plots (using EXCEL, MATLAB, or any other tools for making plots), a plot of s* vs. C and a plot of S* vs. C. Explain the result obtained. (For model 5-4, please see the attachment below) +100 Inventory Level .100 Time (Days) 120 Customer Arrival Demand Against Inventory Customer Leaves Place Order Delivery Lag Happens Order Arrival Inventory Evaluator Leaves After Order Arrival Inventory Evaluato Arrives Place Order? Inventory Evaluator Leaves Without Placing Order Problem 4 (25 pts): For the inventory system of Model 5-4, set up a PAN comparison to investigate the aver-age total cost resulting from each of the following (S, S) pairs: (20,40), (20,60), (20,80), (20, 100), (40,60), (40, 80), (40,100), (60, 80), (60, 100). (80, 100). Suppose the setup cost is C. Repeat the above process for C = 20, 30, ...,90, 100. Identify the (s*, S*) pair associated with the minimum average total cost for each c. Show your results by making two plots (using EXCEL, MATLAB, or any other tools for making plots), a plot of s* vs. C and a plot of S* vs. C. Explain the result obtained. (For model 5-4, please see the attachment below) +100 Inventory Level .100 Time (Days) 120 Customer Arrival Demand Against Inventory Customer Leaves Place Order Delivery Lag Happens Order Arrival Inventory Evaluator Leaves After Order Arrival Inventory Evaluato Arrives Place Order? Inventory Evaluator Leaves Without Placing Order

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