Show me the steps to solve $\mathrm{.}1.$ Explain the meaning of the term $$economic order quantity$$ and explain the significance of calculating this value. $7\mathrm{.}2.$ State any $3$ assumptions of the EOQ model. $7\mathrm{.}3.$ The Blue Oyster buys and sells golf balls to members of the public. The balls cost R$9$ each. The Blue Oyster estimates that they would place orders for $6500000$ golf balls for the current year. The annual total carrying cost for the golf balls in $30\%$ of acquisition cost and the ordering cost is R$600.$ Calculate the EOQ. $7\mathrm{.}4.$ Bramble Traders has an inventory turnover of $7$ times. Debtors take $40$ days to settle their bills and Bramble Traders settle their payables in $47$ days. Credit sales are R$1800000$ p$.$a and cost of sales is $60\%$ of sales. $7\mathrm{.}5.$ A vehicle shampoo supplier presents the following data in respect of their purchases: Annual demand $212000$ units Maximum daily requirement $1800$ units Average daily requirement $1060$ units Carrying cost R$1,80$ per unit. Ordering cost R$40$ per order Lead time $14$ days Time needed to acquire emergency supplies $3$ days NB: Assume that sales are even throughout the year. $7\mathrm{.}5\mathrm{.}1.$ Determine the economic order quantity $($EOQ$).7\mathrm{.}5\mathrm{.}2.$ Determine the ordering point. $7\mathrm{.}5\mathrm{.}3.$ Calculate the danger level.