Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so...

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Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Current (this year) Expected (next year) 280 340 Labor costs per week $940 $995 Energy costs per week $420 $360 Material costs per week Capital investment $340 $0 $370 $13,000 Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Labor Energy Material Total Current (this year) 0.298 haircuts/dollar .667 haircuts/dollar Expected (next year) .342 haircuts/dollar .944 haircuts/dollar .824 haircuts/dollar 0.165 haircuts/dollar haircuts/dollar haircuts/dollar What is the percentage change in total productivity? Do not round intermediate calculations. Round your answer to two decimal places. % Cindy Jo's Hair Salon is concerned about its rising costs of supplies, energy, and labor, so it is considering investing in better equipment, which hopefully will reduce the time required to perform most hairstyles as well as result in better perceived quality by its customers. It predicts that the added investment will increase output levels as well as reduce energy costs, since some of the new equipment (hair dryers) use less electricity. Inputs and Outputs Hairstyles per week Current (this year) Expected (next year) 280 340 Labor costs per week $940 $995 Energy costs per week $420 $360 Material costs per week Capital investment $340 $0 $370 $13,000 Using the given information, determine the current and expected single-factor and total productivity measures. Do not round intermediate calculations. Round your answers to three decimal places. Productivity Labor Energy Material Total Current (this year) 0.298 haircuts/dollar .667 haircuts/dollar Expected (next year) .342 haircuts/dollar .944 haircuts/dollar .824 haircuts/dollar 0.165 haircuts/dollar haircuts/dollar haircuts/dollar What is the percentage change in total productivity? Do not round intermediate calculations. Round your answer to two decimal places. %

Answer rating: 100% (QA)

To calculate the singlefactor and total productivity measures we can use the following formulas Sing... View the full answer