Toyota purchases 8,000 transistors each year as components in its electronic dashboards. The unit cost of each transistor is $10, and the cost of carrying one transistor in inventory for a is $3. Ordering cost is $30 per order.

i. What are (a) the optimal order quantity (5 MARKS)

ii. The expected number of orders places each year (5 MARKS)

iii. The expected time between orders when the production is running 5 days a week for 40 weeks (5 MARKS)

[Total: 15 Marks]