Problem 1: Inventory Management The government of Chindia is designing its vaccination strategy against COVID19. They are negotiating with one major manufacturer, Fizer, and they must decide how many doses to order. Each vaccine costs $20 a dose, and it is estimated that the annual cost of storing and keeping the vaccines at the right temperature (between 112 and 76 F) is 25% of the cost of each dose. In addition, due to the erce competition between countries, the cost of placing an order is $1,000. The estimated annual demand is 100 million closes. a. (5 points) What is the optimal quantity order? Suppose now that, instead of purchasing vaccines from Fizer, Chindia decides to manufacture its NWW'A own vaccine: the Corovax. The government estimates that they can produce 200 million doses per year, and that starting a production run would cost $200,000. The annual holding cost is the same as for the Fizer vaccine, and the production cost is $10 a dose. b. (5 points) What is the optimal quantity of doses to produce? c. (5 points) What option leads to the lowest total inventory cost (i.e., holding cost plus ordering or setup cost)? (5 points) Should Chindia produce their own vaccine