An agency is having problems with personal phone calls made…
An agency is having problems with personal phone calls made during working hours. Each minute of a personal call costs the agency $0.50 in wasted wages. The agency hires operators to monitor calls in order to attain the optimal number of personal calls (minimize total cost of personal calls). A table shows the data on the number of operators and their total minutes of personal calls (per hour). Number of Operators Total minutes of personal calls (per hour) 0 600 1 480 2 410 3 370 4 350 Based on the information in the table, if operators are paid $25 an hour, how many operators should the agency hire?
Read DetailsA manager in charge of new product development can hire engi…
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $120,000 while a market researcher receives $60,000. The marginal contribution of engineers and market researchers are: A table shows engineers and their market researchers. Engineers (E) Market Researchers (R) Worker Additional New Products Worker Additional New Products 240 80 200 70 160 60 100 50 40 40 Based on the information in the table, how should a manager with an annual budget of $720,000, allocate this budget in order to maximize the number of new products developed?
Read Details