Question: Janice Waller, the manager of the customer service department at First Bank of Jefferson County, can hire employees with a high school diploma for $20,000
Janice Waller, the manager of the customer service department at First Bank of Jefferson County, can hire employees with a high school diploma for $20,000 annually and employees with a bachelor’s degree for $30,000. She wants to maximize the number of customers served, given a fixed payroll. The following table shows how the total number of customers served varies with the number of employees:
a. If Ms. Waller has a payroll of $160,000, how should she allocate this budget in order to maximize the number of customers served?
b. If she has a budget of $150,000 and currently hires three people with high school diplomas and three with bachelor’s degrees, is she making the correct decision? Why or why not? If not, what should she do? (Assume she can hire part-time workers.)
c. If her budget is increased to $240,000, how should she allocate this budget?
Total number of customers served Number of employees Bachelor's degree 100 190 270 330 380 410 High school diploma 120 220 300 370 430 470
Step by Step Solution
3.32 Rating (170 Votes )
There are 3 Steps involved in it
a With a payroll of 160000 the manager should hire five people with high school diplomas and two ... View full answer
Get step-by-step solutions from verified subject matter experts
100% Satisfaction Guaranteed-or Get a Refund!
Document Format (1 attachment)
350-B-E-M-E (3786).docx
120 KBs Word File
-
Access 30 Million+ textbook solutions.
-
Ask unlimited questions from AI Tutors.
-
Order free textbooks.
-
100% Satisfaction Guaranteed-or Get a Refund!
Study Help