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In her last-minute preparations for final exams, a student has set aside five hours to split between studying for two subjects, finance and economics. Her goal is to maximize the average grade received in the two courses. (Note that maximizing the average grade and maximizing the sum of the grades are equivalent goals.) According to her best guesses, grades vary with study as follows: Study hours Finance Grade Study hours Economics Grade 0 70 0 75 1 78 1 81 2 83 2 85 3 88 3 87 4 90 4 89 5 92 5 90 a. List the marginal values of additional hours worked for each subject. b. How much time should the student spend studying each subject? c. c. Suppose the student also is taking an accounting exam and estimates that each hour of studying will raise her grade by three points. She has allotted two hours for studying accounting (in addition to the five hours already mentioned). Is this an optimal decision? Explain. (Assume her objective is to maximize her average grade across the three courses.)
Discuss and explain the challenges when determining compensation and benefits for flexible and/or contingent employees. Include in your discussion the advantages and disadvantages of telecommuting. In your discussion include the concept of total comp..
Assume that the hamburger patties cost $1.00 a pound. What is the inventory turnover for the hamburger patties?
What is operations management? Why is it important? Is a good knowledge of operations management more important in service or manufacturing industries? Explain your answer.
Why is it important to know about the characteristics of a country’s transportation infrastructure?
How would you go about analyzing an organizational structure in terms of creating a work breakdown structure? What are the major organizational characteristics that you would evaluate? Provide an example to support your response.
Calculate a service level for each of the above airlines. Marketing expenses for each quarter are known in advance, and could be used to improve forecasting performance with respect to the number of subscribers.
A company is designing a product layout for a new product. it plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are: if the company wants the output..
Compute the total cost of your plan, and compare it to the total cost of the plan used in the solved problem. Assume 20 full-time workers.
Where does the strategy consulting firm concentrate its efforts within the processes of strategy assessment, formulation, decision making, implementation, and evaluation
List and describe the necessary factors for introducing a successful employee incentive plan. What are some factors to consider for improving employee morale?
What does KSAO stand for with respect to training? Give one example for each letter in your explanation for the job of Professor of Human Resource Management.
Which is the international standard for quality management for automotive industry suppliers of production parts, materials, and services?
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