Solve the following Economic Production Quantity problem using the following

data:

A company operates $220$ days per year. They use brackets at a steady rate of $50$

per day. The brackets can be produced at the rate of $200$ per day. Annual

storage cost is $$2\mathrm{.}00$ per bracket and machine setup cost is $$70$ per run.

a$.$ What is the Economic Production Quantity?

b$.$ How many production runs will be needed per year $($approximate$)?$

c$.$ What is Imax?

d$.$ What is average inventory?