Problem 3 (20 points) Perform aggregate planning using the chase and the level strategy. Calculate and compare the total cost for both strategies. Two additional assumptions: Unmet demands in a period can be held and fulfilled in a future period. There is no cost associated with unmet demands (i.e., negative inventory has no costs). Beginning Inventory: 20 units Beginning Workforce: 8 workers Production Rate: 10 units/worker/period Regular Production Costs: $6.5/unit Inventory Costs: $19/unit/period Hiring Cost: $90/worker Firing Cost: $70/worker Period Demand 1 2 3 4 5 80 60 90 70 100