solve two aggregate planning problems with detailed explanation

Problem 3 (25 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: 10 units Beginning Workforce: 5 workers Production Rate: 10 units/worker/period Regular Production Costs: $9/unit Inventory Costs: $28/unit/period Hiring Cost: $180/worker Firing Cost: $170/worker Period 1 2 3 45 Demand 8050 1106050 Problem 3 (25 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: 50 units Beginning Workforce: 10 workers Production Rate: 10 units/worker/period Regular Production Costs: $9.5/unit Inventory Costs: $21/unit/period Hiring Cost: $130/worker Firing Cost: $120/worker Period 1 Demand | 220 2 180 3 4 190 200 5 170