True or False 1. Aggregate planning or planning by groups of products seeks to find the combination of

monthly work force, production, and inventory levels that minimizes total production-

related costs over the planning period.

True or False 2. Aggregate planning considers the costs of regular and overtime labor, hiring, layoffs,

inventory holding, backlogging, and subcontracting.

True or False 3. Yield management is useful when inventory is perishable.

True or False 4. Yield management is useful when the product can be sold in advance.

True or False 5. Yield management is useful when the demand is flat and does not vary over time.