Highest productivity in terms of revenue per dollar of input

Assignment Help Operation Management

Reference no: EM131399023

A property title search firm is contemplating using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 per minute. Clients are charged a fee of $400. Company A's software would reduce the average search time by 10 minutes, at a cost of $3.50 per search. Company B's software would reduce the average search time by 12 minutes at a cost of $3.60 per search. Which option would have the highest productivity in terms of revenue per dollar of input?

You must show how you obtain the answers to the problem. If you just give a solution without showing how it was obtained, you will receive no credit. There are 3 productivities asked for: (1) Current method, (2) using Company A's software, and (3) using Company B's software.

Reference no: EM131399023

Questions Cloud

What is the formula for the net interest margin : Net Interest Margin What is the formula for the net interest margin? Explain why it is closely monitored by banks. What is accomplished when a bank integrates its liability management with its asset management?

Indicate whether the variable is categorical or quantitative : For each of the given variables, indicate whether the variable is categorical or quantitative.- Importance of religion to respondent.

Prepare a synopsis of the us healthcare system : OuHealthcare has moved to the forefront in heated debates within the US. The current cost of delivering care is approximately 16% of the gross domestic product (GDP), and the Medicare program is projected to run out of funds in the next decade. Put o..

What is the best single variable equation : Harlow Company is an online discount retailer. What variables (if any) have little to no effect on distribution cost? What is the best single variable equation

Highest productivity in terms of revenue per dollar of input : A property title search firm is contemplating using online software to increase its search productivity. Currently an average of 40 minutes is needed to do a title search. The researcher cost is $2 per minute. Clients are charged a fee of $400. Which..

Why were us banks slow in expanding to other countries : Why were US banks slow in expanding to other countries? What changed that caused US banks to set up locations in other countries?

Canada savings bond or in the euro-bond : If the current exchange rate is 1.2 Canadian Dollars per Euro and the 3-month forward exchange rate is 1.25 Canadian Dollars per Euro, should a resident of Canada invest in the Canada Savings Bond or in the Euro-bond?

What is wrong with this advertisement : Against the plain white background of a large billboard is a picture of a woman walking arm-in-arm with a man, though the man is only partially visible. The logo and name of a perfume appear prominently in the lower right corner of the billboard. The..

Describe main features its inputs-processes-outcomes : In 250 words, describe main features its inputs, processes, outcomes and outcomes (oroutputs) of an organization. How do these features work together to affect the outputs? In otherwords, if you were to change a process or an input, how would it chan..

User Account

All Pages