Joe's Corner Store sells 1500 candy bars per year. It costs $20 to place an order to the candy bar supplier. Each candy bar costs the store $1. Holding costs are estimated to be 30% per year. Suppose Joe must order candy bars in power-of-two multiples of 1 week (assume 52 weeks a year). Determine:

a.)What is the base timein years?

b.)What is the optimal power-of-two order interval T* and what's the optimal k* (try a range of k from -5 to 15)?

c.)What is the annual total cost using the optimal power-of-two order interval T*?

d.)What is the order quantity Q if usingthe optimal power-of-two order interval T*?

e.)What is EOQ if fractional order interval is allowed?

f.)What is the optimal interval using EOQin weeks(assume 52 weeks a year)?

What is the costratiothe optimal power-of-two solution versus the optimal (EOQ) solution