Determine how many workers company should hire

Reference no: EM1375957

The local operations manager for IRS must decide whether to employee 1, 2, or 3 temporary employees. He determine that net revenues will vary with how well taxpayers comply with new tax code. The probabilities of low, medium and high compliance are 0.3, 0.4, and 0.3, respectively, and the payoff table is shown below. Using expected values, determine how many workers the company should hire.

# of workers Low compliance Medium compliance High compliance
1 50 50 50
2 20 60 100
3 -10 70 150

Reference no: EM1375957

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