1. Sketch a timeline of the key events of the 1993-94 season. Why can't they place the entirety of theirproductionorder after the Las Vegastrade show? 2. As a warm-up to practice newsvendor calculations, imagine there was a single productionorder, placed before the Las Vegas trade show. How much of each style should Wally order? Calculate his expected lost sales, expected leftover inventory and expected profit for each style. Ignore price differences among styles and minimum order quantities in your analysis. 3. Using the sample data given in Exhibit 10, make a recommendationfor how many units of each style Wally Obermeyer should order during the initial phase of production before the Las Vegas trade show. Assume that all 10 styles in the sample problem are made in Hong Kong and that Obermeyer'sinitial productioncommitmentmust be at least 10,000 units. Ignore price differences among styles and minimum order quantities in your analysis. 4. (Optional Now add in minimum order quantities of 600 units. What styles would you recommend to make before the Las Vegas trade show now