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Questions 4-6: A pharmacist wants to establish an optimal inventory policy for a new antibiotic that requires refrigeration in storage. The pharmacist expects to sell

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Questions 4-6: A pharmacist wants to establish an optimal inventory policy for a new antibiotic that requires refrigeration in storage. The pharmacist expects to sell 4,800 packages of this antibiotic at a steady rate during the next year. She plans to place several orders of the same size spaced equally throughout the year. The ordering cost for each delivery is $12. and carrying costs. based on the average number of packages in inventory. amount to $8 per year for one package. Use this information to answer the following questions. Let :3 be the number of packages in each order (the order quantity) and let r be the number of orders placed during the year. The pharmacist wishes to determine the economic order quantity that minimizes the inventory cost (ordering costs plus carrying costs). 4. Write an equation for the inventory cost 0 in terms of x and r'. 5. Write the constraint equation for this problem. 6. Determine the economic order quantity x that minimizes the inventory cost and find the minimum inventory cost

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