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Problem 2: Quantity Discounts (5 points) The Milwaukee Bucks Team Shop sells 3,698 Bucks hoodies per year. The cost per hoodie to hold it in

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Problem 2: Quantity Discounts (5 points) The Milwaukee Bucks Team Shop sells 3,698 Bucks hoodies per year. The cost per hoodie to hold it in inventory for the year is $10 and there is a $160 charge for placing an order. a) What is the economic order quantity? (2 points) For part b) assume the cost of the hoodies are based on the quantity ordered at one time. If less than 100 are ordered the unit price is $15; if 100-499 are ordered the unit price is $14.90; if 500-749 are ordered the unit price is $14.80; and if 750 or more are ordered the unit price is $14.70. b) What order quantity will result in the lowest total annual cost for the Team Shop? Be sure to show your work for full credit. (3 points)

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