Question: The table belowprovides the information for a popular dining set at a Big Lotsstore in Daytona Beach: Annual Demand 10 sets Holding cost $26.00/set.year Ordering

The table belowprovides the information for a popular dining set at a Big Lotsstore in Daytona Beach:

Annual Demand10 sets
Holding cost$26.00/set.year
Ordering cost$80
standard deviation ofdaily demand3 sets
Lead-time20 days

(a) What is the EOQ?(Assume 365 days in a year)

(b) How much is thetotal annual cost associated with the EOQ?

(c) What should be thereorder point to have a 90% service level?

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