Cathy Gwynn, a recently graduated engineer, decided to invest some of her money in a Quick Shop
Question:
Time Period Daily Sales in the Time Period
0600-0700............................................. ¢ 20
0700-0800................................................ 40
0800-0900................................................ 60
0900-1200.............................................. 200
1200-1500.............................................. 180
1500-1800.............................................. 300
1800-2100.............................................. 400
2100-2200.............................................. 100
2200-2300................................................ 30
2300-2400................................................ 60
2400-0100................................................ 20
The cost of the groceries sold averages 70% of sales. The incremental cost to keep the store open, including the clerk's wage and other incremental operating costs, is $10 per hour. To maximize profit, when should the store be opened, and when should it be closed?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Engineering Economic Analysis
ISBN: 9780195168075
9th Edition
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
Question Posted: