Cost forecast modeling, Cost Forecast Modeling. John

Cost forecast modeling

Assignment Help Business Economics

Reference no: EM131093216

Cost Forecast Modeling. John Carter, an intern at Medical Products, Inc., is evaluating the cost effectiveness of a training program in his department. Carter believes that the monthly rejection rate is inversely related to the hours spent each month on worker training.

A. Write an equation to predict next month's rejection rate using the symbols R = rejection rate, T = worker training, t = time, a₀= constant term, a₁ = regression slope coefficient, and assuming that the rejection rate in the forecast month decreases by twice the percentage increase in worker training during the preceding month.

B. If 40 hours were spent last month on worker training and this month's rejection rate was 60, what should the rejection rate be next month if worker training this month is 50 hours? Use the equation developed in part A..

Reference no: EM131093216

Questions Cloud

Investors to borrow abroad to invest domestically : Following an increase in Mexican prices would interest rates relative to U.S. interest rates, which caused Mexican investors to borrow abroad to invest domestically, which of the following would occur?

Determine the record lengths (m) for the bartlett : Determine the record lengths (M) for the Bartlett, Welch (50% overlap), and Blackman-Tukey methods.

Supply and demand curves intersect is unique combination : The price-quantity combination found where the supply and demand curves intersect is a unique combination that is efficient because

Find the linear demand function : A manufacturer has been selling 1000 television sets a week at $350 each. A market survey indicates that for each $10 rebate offered to the buyer, the number of sets sold will increase by 100 per week. Round your answers to the nearest dollar. Find t..

Cost forecast modeling : Cost Forecast Modeling. John Carter, an intern at Medical Products, Inc., is evaluating the cost effectiveness of a training program in his department. Carter believes that the monthly rejection rate is inversely related to the hours spent each month..

Consider the savings plans for two investors : Consider the savings plans for two investors-we'll call them Mary and Bill- who began inversting 10 years apart. Both put the same amount of money aside ($100 per month for 20 years for a total of $24,000). Mary and Bill earned the same interest rate..

Determine the minimum-phase system function h(z) : Determine the minimum-phase system function H(z).

Hybrid-fueled engine and six-speed transmission : Your brother has decided to purchase a new automobile with a hybrid-fueled engine and a six-speed transmission. After the trade-in of his present car, the purchase price of the new automobile is $30,000. This balance can be financed by the auto deale..

The inverse demand curve for stackelberg duopoly : The inverse demand curve for a Stackelberg duopoly is P =1847 - 2Q. The leader's cost structure is CL(QL) = 10QL. The follower's cost structure is CF(QF) = 21QF. Find the follower revenue

User Account

All Pages