Table 2.1: Actual sales data for the reading glasses during 2021 3.1 Using the actual sales data provided above, detemine the economic order quantity (EOQ) of reading glasses for 2021 financial year. (6 marks) 3.2 Using the EOQ model, determine the number of orders for reading glasses placed by InSight Limited during 2021. (3 marks) 3.3 Suppose that the reading glasses amive at the premises of Insight Limited 7 days after an order has been placed, determine the level at which Insight Limited had to replenish the stock during 2021 (Assume a 350 working days during 2021). 3.4 Determine how much Insight Limited would save by switching from the current ordering policy to the economic orderquantity model. (7 marks) QUESTION 4 (20 marks) Using the sales data of the reading glasses in Table 2.1 (question 3), answer the following questions: 4.1 Calculate the three-month-weighted-moving-average monthly forecasts for the period April 2021 - December 2021. Use weights of 0.5, and 0.2 for the most recent and oldest monthly data respectively and 0.3 for the middle month (show all workings). (9 marks) 4.2 Determine the Mean Absolute Deviation (MAD) of the three-month-weighted-movingaverage monthly forecasts for the April - December 2021 period. (4 marks) a. The linear regression equation of the sales of reading glasses for the 2021 financial year is given by the expression: y=201.4x+4091 (where ' y ' denotes monthly sales, and ' x ', the number representing the month. For example, x=1,2,3, etc., if the month is January, February, March, etc.). Use the regression equation to determine the Mean Absolute Deviation (MAD) of the regression forecasts for the April - December 2021 period. (5 marks) Table 2.1: Actual sales data for the reading glasses during 2021 3.1 Using the actual sales data provided above, detemine the economic order quantity (EOQ) of reading glasses for 2021 financial year. (6 marks) 3.2 Using the EOQ model, determine the number of orders for reading glasses placed by InSight Limited during 2021. (3 marks) 3.3 Suppose that the reading glasses amive at the premises of Insight Limited 7 days after an order has been placed, determine the level at which Insight Limited had to replenish the stock during 2021 (Assume a 350 working days during 2021). 3.4 Determine how much Insight Limited would save by switching from the current ordering policy to the economic orderquantity model. (7 marks) QUESTION 4 (20 marks) Using the sales data of the reading glasses in Table 2.1 (question 3), answer the following questions: 4.1 Calculate the three-month-weighted-moving-average monthly forecasts for the period April 2021 - December 2021. Use weights of 0.5, and 0.2 for the most recent and oldest monthly data respectively and 0.3 for the middle month (show all workings). (9 marks) 4.2 Determine the Mean Absolute Deviation (MAD) of the three-month-weighted-movingaverage monthly forecasts for the April - December 2021 period. (4 marks) a. The linear regression equation of the sales of reading glasses for the 2021 financial year is given by the expression: y=201.4x+4091 (where ' y ' denotes monthly sales, and ' x ', the number representing the month. For example, x=1,2,3, etc., if the month is January, February, March, etc.). Use the regression equation to determine the Mean Absolute Deviation (MAD) of the regression forecasts for the April - December 2021 period