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Reference: Chapter 2 Inventory management & Risk Poolingo Based upon the reference chapter and class discussions, solve the following problem The probabilistic forecast for a textile retail product is given in Table 1. Prob (demand) 10% 15% 30% 25% 15 % 5% demand 6.000 8.000 10.000 12.000 14.000 16.000 The costs associated with the product are Fixed order cost is $ 50.000 - Unit purchasing cost is $ 80 The revenues associated with the product are - Sales price during season $ 120 - Discount price after season is $33 Questions. 1. Calculate and plot the average profit against purchase quantities (with purchase lot size of 1,000 units) 2. What is the optimal purchasing quantity that maximizes expected profit? 3. What is the profit value for optimum purchasing quantity