Question: Just need help with (a). Would appreciate a step-by-step explanation. Thanks A law firm specializes in the issuance of insurance policies covering large commercial real

Just need help with (a). Would appreciate a step-by-step explanation. Thanks

Just need help with (a). Would appreciate a

A law firm specializes in the issuance of insurance policies covering large commercial real estate projects. These fall into two categories: shopping centers, and medical clinics. The typical work involved in each transaction is quite predictable and repetitive. The time requirements for preparing a standard contract of each type are given in the table below. Also listed are the number of professionals of each type and the availability (in hours per day). Hours per Hours per Hours available contract Number of (hours per Type (shopping contract (clinics) professionnals professional per centers) day)* Paralegal 4 6 4 6 Tax lawyer 1 3 3 8 Senior partner 1 1 2 4 * A paralegal can work up to 6 hours in one day on contracts, a tax lawyer up to 8 hours per day and a senior partner up to 4 hours per day. Suppose that, next month, the firm forecasts a demand for 150 contracts to process (75 in each category). Also suppose 20 working days in one month. a) What is the average capacity of the firm (in contracts per day). Hint: Start by estimating the number of hours per contract per type of professional, given that 50% of contracts fall into one or the two categories. A law firm specializes in the issuance of insurance policies covering large commercial real estate projects. These fall into two categories: shopping centers, and medical clinics. The typical work involved in each transaction is quite predictable and repetitive. The time requirements for preparing a standard contract of each type are given in the table below. Also listed are the number of professionals of each type and the availability (in hours per day). Hours per Hours per Hours available contract Number of (hours per Type (shopping contract (clinics) professionnals professional per centers) day)* Paralegal 4 6 4 6 Tax lawyer 1 3 3 8 Senior partner 1 1 2 4 * A paralegal can work up to 6 hours in one day on contracts, a tax lawyer up to 8 hours per day and a senior partner up to 4 hours per day. Suppose that, next month, the firm forecasts a demand for 150 contracts to process (75 in each category). Also suppose 20 working days in one month. a) What is the average capacity of the firm (in contracts per day). Hint: Start by estimating the number of hours per contract per type of professional, given that 50% of contracts fall into one or the two categories

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