ZuoTi.Pro
Question

This question has multiple parts! Imagine you are a firm that wants to increase its sales by $3000000 in the next month. Yo

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The goal is to increase the sales for the next month by $3,000,000.

(a) How many college graduates would you need to hire to reach your goal?

No of college graduates needed = Goal /Monthly sales by one college student =3000000 200000 - -15

(b) What is the total wage bill from hiring only college graudates?

We are required to hire 15 college graduaes to complete the goal for the next month.

Annual salary of one college graudate = $90,000

Total wage = 15 * 90,000 = 1,350,000

(c) How many high scool graduates would you need to hire to reach your goal?

No of high school graduates needed = Goal /Monthly sales by one high scool student =3000000 50 60000

(d)What is the total wage bill from hiring only high school graudates?

We are required to hire 50 high school graduaes to complete the goal for the next month.

annual salary of one high school graudate = $45,000

Total wage = 50 * 45,000 = 2,250,000

0 0
Add a comment
Know the answer?
Add Answer to:
This question has multiple parts! Imagine you are a firm that wants to increase its sales...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Ten years ago, the town of Easton decided to increase its annual spending on education so...

    Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not...

  • Ten years ago, the town of Easton decided to increase its annual spending on education so...

    Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not...

  • Ten years ago, the town of Easton decided to increase its annual spending on education so...

    Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not...

  • 1.Ten years ago, the town of Easton decided to increase its annual spending on education so...

    1.Ten years ago, the town of Easton decided to increase its annual spending on education so that its high school graduates would be able to earn higher wages. Now Easton has asked you to evaluate the effectiveness of the spending increase. Their data show that before the spending increase, the average annual salary of recent high school graduates was $25,000 and that now that average salary has risen to $28,500. Fortunately for your analysis, a neighboring community (Allentown) did not...

  • Imagine that you manage a high-volume electronics store, Electricity, Inc. Each of the salespeople has a...

    Imagine that you manage a high-volume electronics store, Electricity, Inc. Each of the salespeople has a very ambitious monthly sales goal; for the store to meet its overall goal, all of the salespeople need to meet their individual goals. Apply each of the four keys to a successful control system to Electricity, Inc., explaining how you would implement an effective control system.

  • Answer according to the human capital model. Assume there are not any non-pecuniary benefits or c...

    Answer according to the human capital model. Assume there are not any non-pecuniary benefits or costs. Also, assume the interest rate is 0. 2. Imagine you are in high school and have to decide whether or not to go to college. If you don’t go to college you can make $30,000 annually until you retire (that is, for 40 years). You must pay $10,000 annually to study 4 years of college. Imagine after graduating you could make $40,000 annually. a....

  • Question 7(26 points): On your way to the cashier's office (to pay yet another dorm damage...

    Question 7(26 points): On your way to the cashier's office (to pay yet another dorm damage bill), you overhear UR. Accepted (the Dean of Admissions) having a violent argument with I. M. Smart (the director of the Computer Center) about an equation that Smart built to understand the number of applications that the school received from high school seniors. In need of an outside opinion, they turn to you to help them evaluate the following regression results (standard errors in...

  • Imagine you are running a new company that wants to start small and then scale. As...

    Imagine you are running a new company that wants to start small and then scale. As the manager, you start out as the only full-time employee and you have a part-time support staffer and a part-time marketing employee. 1. At the beginning of your operations (year 1), the price of your product is $100. Your competitors are charging $110. Your direct costs are $60/unit ($40 labor, $20 materials). Your monthly overhead is as follows: facilities all-in $3,000, management $10,000, sales-marketing...

  • Strategy Exercise: Imagine that you are the manager of a McDonald’s restaurant. You are pursuing a...

    Strategy Exercise: Imagine that you are the manager of a McDonald’s restaurant. You are pursuing a low-cost, high-quality service strategy. You believe that the assistant manager you hire is critical to executing your strategy because the person will have a great deal of contact with both your employees and customers. You have just finished interviewing the five finalists for the position. One candidate really stands out: Pat Edwards has three years of relevant work experience and a collaborative and service-oriented...

  • They are short Question. You need to answer each Question very shortly. You dont need to...

    They are short Question. You need to answer each Question very shortly. You dont need to answer long. Thanks 01. Why is the study of economics an important part of social science? Give an example from the real world Q2. If the real wage rate (adjusted for inflation) declines for the jobs for high school graduates, would the true opportunity cost of attending college or spening or higher education decline? Give an example. Q3. How do you measure the efficiency...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT