Problem 3 A retailer experiences a seasonal demand pattern for its services. Labor requirements over a typical six-month period follow. Costs associated with operations are as follows: Wages =$2,000 per worker per month Hiring cost=$1,000 per worker Layoff cost=$1,500 per worker The current workforce level is 10 workers. Use the "spreadsheet approach" and the preceding data to answer the following questions. (NOTE: You do not actually have to use a spreadsheet; you can use the "spreadsheet approach" in a Word table or similar format if you prefer.) a. What is the total cost of a staffing plan, including the cost of regular wages, hiring, and layoffs using a chase strategy with hiring and layoffs, but no overtime? b. What is the total cost of a staffing plan, using a level strategy in which no overtime is allowed and the undertime paid for? c. Suppose that overtime is allowed up to 25% of the regular-time capacity, and that overtime wages are 150% of the regular-time rate. What is the total cost of the level strategy with overtime and undertims that also minimizes undertime? As in part b, assume that undertime must be paid for. d. Which of these three plans would you recommend? Why