This file of BSOP 334 Week 2 Homework comprehends:Chapter 13:3. Briefly describe each of the costs associated with inventory.6. List the major assumptions of the EOQ model.10. Under what circumstances would the amount of safety stock held be11. What is meant by the term service level? Generally speaking, how is service level related to the amount of safety stock held?14. Explain how a decrease in setup time can lead to a decrease in the average amount of inventory a firm holds, and why that would be beneficial.