Question 3 Super Value needs 1 000 juicers per year. The cost of each juicer is $78. Ordering cost is $100 per order. Carrying cost is $20 of unit cost. Lead time is 5 days. Super Value is open 360 days/yr. A. B. i. What is the EOQ model? ii. How many times per year does the store reorder? (2 marks) (2 marks) (2 marks) iii. What is the length of the order cycle? iv. What is the total annual cost if the EOQ quantity is ordered? (2 marks) v. If the Winnifred Restaurant acquires the capacity to produce the inputs at a rate of 5000 per annum, calculate the batch order quantity (BOQ). (5 marks) C. What are THREE (3) assumptions of Time Series Models for demand forecasting? (3 marks) The table below shows the number of Bible sales recorded at a certain store. Weeks 1 Bible Sales 110 10 2 3 4 5 6 7 8 9 130 120 140 170 150 160 190 200 190 i. Forecast the demand for all weeks possible using a two-period moving average. (4 marks) (4 marks) ii. What is the MAD for this method? iii. If the store decided to forecast using exponential smoothing with value of alpha=0.7, what would be the forecasts for Bibles? (Use 2 decimal places). iv. Is this an improvement over the previous method? Explain? (4 marks) (2 marks) (Total 30 marks)