Determine how many workers company should hire

Assignment Help Econometrics

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

Questions Cloud

Describe training equity and the glass ceiling : Describe training equity and the glass ceiling and then analyze how these terms related to Ms. Conner. Examine the issues that Ms. Conner dealt with and propose ways that these issues could have been avoided or mended.

Illustrate what is the activitys slope : Given that an activity's normal time also cost are ten days also $400 also its crash time also cost are five days also $800, illustrate what is the activity's slope.

Why did amy classify the shift leaders are exempt : Why did Amy classify the shift leaders are exempt. Are they any advantages to Jones Department Store to having the Shift Leaders classified as Exempt.

Describe whether the u.s. government should do more : Describe whether the U.S. government should do more to protect consumers or if consumers should become more aware and informed in today's business environment

Determine how many workers company should hire : 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.

Elucidate how many customers on average are waiting : Elucidate how many customers, on average, are waiting in line in front of each service desk. Elucidate how much time does a customer spend at the service desk (waiting plus service time).

Using ms visio to depict the er diagrams for scenario : Using MS Visio to depict the ER diagrams for the following scenario. State any expectations you believe you have to make in order to develop a complete diagram.

Elucidate how do you expect your customers to react : Elucidate how do you expect your customers the restaurants to react to the change to extranets. Which one of the following most closely describes the MRP approach that is used for components or subassemblies to compensate for variations in lead ti..

Illustrate what is the minimum number of service bays : The effective capacity also efficiency of a fast Lube is service bay are known to be 5.5 also 0.880 respectfully. Illustrate what is the minimum number of service bays Fast Lube requires to achieve an anticipated production of 200 cars per 8-hour ..

User Account

All Pages