Determine how the total number hired and fired

Assignment Help Mathematics
Reference no: EM131644316

Question: A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver's salary is $30,000 per year. At the beginning of year 1 the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year's requirements and is paid full salary for the current year.

a. Determine how to minimize the bus company's salary, hiring, and firing costs over the next five years.

b. Use Solver Table to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase by the same percentage.

Reference no: EM131644316

Questions Cloud

Discuss lobbying laws special ethical challenges unique : Ethical delimmas unique with diabetic population How the delimmas could be resolved Applicable ethics and lobbying laws Special ethical challenges unique
What changes do individuals resist : What changes do individuals resist? What changes do individuals not resist? Why do individuals resist some changes but not others?
Change the signs of the correlations between stocks : Change the signs of the correlations between stocks 1 and 2 and between stocks 1 and 3. (Here, stock 1 tends to go in a different direction from stocks 2 and 3.
What is meant by the concept of comparative advantage : Why do nations trade? What is meant by the concept of "Comparative Advantage"? Could a nation be better off economically, if it practiced an isolation policy?
Determine how the total number hired and fired : Use Solver Table to determine how the total number hired, total number fired, and total cost change as the unit hiring and firing costs each increase.
Discussion regarding the influence of government regulation : From the textbook there is discussion regarding the influence of Government regulation. Identify 2 possible unfair labor practices for management.
Trade agreement among countries : Discuss the Pro's and Con's of a trade agreement among countries. NAFTA has is the trading agreement between the US, Mexico, and Canada.
Define impact on healthcare and nursing : Impact on professional nursing practice, Define Impact on healthcare and nursing
Why bank maximize annual return on investment portfolio : No more than 25% of the total amount invested can be in personal loans. Help the bank maximize the annual return on its investment portfolio.

Reviews

Write a Review

Mathematics Questions & Answers

  What is the projected net income

Calculating Projected Net Income. A proposed new investment has projected sales of $825,000. Variable costs are 55 percent of sales, and fixed costs are $187,150; depreciation is $91,000. Prepare a pro forma income statement assuming a tax rate of..

  Construct a niche overlap graph for six species of birds

Construct a niche overlap graph for six species of birds, where the hermit thrush competes with the robin and with the blue jay.

  Solve composition of functions and isomorphisms

Composition of Functions and Isomorphisms, I can't prove the following statements about functions f:A->B and g:B->C, 1. If gof is one-to-one then so is f.

  Appropriate sampling design

Suppose you are an apparel manufacturer and this suggestion appeals to you. State the relevant population and the most appropriate sampling design.

  Write a memo outlining a policy

You will write a memo outlining a policy regarding which rental car vendors to use for the hypothetical company you work for. Support with a graph (use graphing program) and explain your reasoning.

  What shipping schedule will enable acrosonic

SHIPPING COSTS Acrosonic manufactures a model-G loudspeaker system in plants I and II. The output at plant I is at most 800/month, and the output at plant II.

  Use the given formula to prove

Use the formula for r2(n) to prove the given:- If n = p, where p is a prime of the form 4k + 1, then r2(n) = 8. This implies that n can be written in a unique way as n = n12 + n22, except for the signs and reordering of n1 and n2.

  Jordan made a wooden square box all sides of wooden box are

jordan made a wooden square box. all sides of the wooden box are 6 cm. if he wants to increase the length of all sides

  Define the power set of a set s

How many elements does the power set of a set S with n elements have?

  What is the value of p

If A denotes some event, what does Upper A overbardenote? If P(A)equals0.002,what is the value of P(Upper A overbar)?If P(A)equals0.002,is Upper A overbarunlikely?

  Calculate the appropriate test statistic to test hypotheses

The EPA wants to test whether the data support the conclusion that the mean level is less than 15 ppb. Calculate the appropriate test statistic to test the hypotheses.

  How fast is the plane traveling at that time

A plane flies horizontally at an altitude of 5 km and passes directly over a tracking telescope on the ground. When the angle of elevation is π/3, this angle is decreasing at a rate of π/6 rad/min. How fast is the plane traveling at that time? (Ro..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd