Q.2. A construction contractor estimates that the size of the work force needed over the next 5 weeks to be 8, 4, 7, 8 and 2 workers, respectively. Excess labor kept on the force will cost $300 per worker per week, and new hiring in any week will incur a fixed cost of $400 plus $200 per worker per week. A worker engaged is to be paid a fixed wage of $2 per hour with the working hours being 40 per week. What should be the optimum number of workers kept during each week?
Q.2. A construction contractor estimates that the size of the work force needed over the next 5 weeks to be 8, 4, 7, 8 and 2 workers, respectively. Excess labor kept on the force will cost $300 per worker per week, and new hiring in any week will incur a fixed cost of $400 plus $200 per worker per week. A worker engaged is to be paid a fixed wage of $2 per hour with the working hours being 40 per week. What should be the optimum number of workers kept during each week?
Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter9: Attracting And Retaining The Best Employees
Section: Chapter Questions
Problem 13DQ
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