15. Select True or False:

(a) A level strategy seeks to produce an aggregate plan that maintains a steady production rate and/ or a steady employment level.

(b) The objective of aggregate plan is to specify the optimal combination of production rate, work- force level and inventory on hand.

(c) A forecast of aggregate demand covering the selected planning horizon, i.e., 0 to 36 months.

(d) In the equation of aggregate planning problem, inventory on hand is stated as the balance of used inventory carried over from the previous period.