Describe the differences between level,chase,and mixed production plans.Use the forecast in the table to show the differences by creating a plan of each type.There is no beginning inventory and regular production capacity is 350 units.Overtime costs $10 extra and is limited to 50 units per month.Subcontracting is limited to 100 units per month and costs $15 per unit.Back orders cost $40 per unit and there is a cost of $5 per month to hold a unit in inventory.There is room for only 100 units in inventory.
Definitions:
Mean
The arithmetic average of a dataset, calculated by adding up all the numbers in a dataset and dividing by the count of those numbers.
Median
The middle value in a dataset when it is ordered from smallest to largest, or the mean of the two middle values if the dataset has an even number of observations.
Distribution Shape
Refers to the geometric arrangement of data points in a distribution, common shapes include normal, skewed, or bimodal distributions.
Mean Number
The arithmetic average of a set of values, calculated by dividing the sum of all values by the number of values.
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