Question

Chris LeBlanc estimates that if he does 5 hours of research using data that will cost $75, there is a good chance that he can improve his expected return on a $10,000, 1-year investment from 8% to 10%. Chris feels that he must earn at least $20 per hour on the time he devotes to his research.
a. Find the cost of Chris’s research.
b. By how much (in dollars) will Chris’s return increase as a result of the research?
c. On a strict economic basis, should Chris perform the proposed research?


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  • CreatedApril 28, 2015
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