A manufacturing company produces a specific type of electronic component. The annual demar

for this component is estimated to be $10,000$ units. The cost to set up the production process for

each batch is $$500,$ and the holding cost per unit per year is $$2.$ The company can produce $100$

units per day, and the business operates $250$ days a year.

Calculate the following:

Economic Order Quantity $($EOQ$)$

Total number of orders per year

Cycle time between orders

Total annual cost of the inventory policy

Assume a constant demand rate and use the EOQ model for your calculations.

Note: This question involves concepts like Economic Order Quantity $($EOQ$),$ inventory

management, and cost calculations, which are vital in operations management. To solve it$,$ you

would typically use the EOQ formula and other related inventory management formulas.