Med-Tech labs is a facility that provides medical tests andevaluations for patients, ranging from analyzing blood samplesto performing magnetic resonance imaging (MRI). Averagecost to patients is $60 per patient. Labor costs average $15 perpatient, materials costs are $20 per patient, and overhead costs areaveraged at $20 per patient.(a) What is the multifactor productivity ratio for Med-Tech?What does your fi nding mean?(b) If the average lab worker spends three hours for eachpatient, what is the labor productivity ratio?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Med-Tech labs is a facility that provides medical tests and
evaluations for patients, ranging from analyzing blood samples
to performing magnetic resonance imaging (MRI). Average
cost to patients is $60 per patient. Labor costs average $15 per
patient, materials costs are $20 per patient, and overhead costs are
averaged at $20 per patient.
(a) What is the multifactor productivity ratio for Med-Tech?
What does your fi nding mean?
(b) If the average lab worker spends three hours for each
patient, what is the labor productivity ratio?
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