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77julia77 [94]
3 years ago
14

Free rider problems are everywhere. For example, some restaurants let each food server keep his or her own tips. Other restauran

ts require all of the food servers to put their tips into a tip pool, which then gets divided up equally among all of the servers. Let’s think about how the tip pool changes the server’s incentive to be nice to the customer.
a. Let’s assume that a server can be "nice" and earn $100 in tips per shift, or be "mean" and earn $40 in tips per shift. If an individual server goes from being mean to being nice, how much more will he or she earn in a non-tip-pooling world?

Gains from being "nice": $ -----------------------

b. Now let’s look at incentives in a tip pool. If all the servers are mean, how much will the average server earn? If all the servers are nice, how much will the average server earn?

Average mean server earnings:$ ----------------

Average nice server earnings: $ ----------------

What’s the change in tips per server if all of them switch from being mean to being nice?

Change in tips per server: $ --------------

c. But in the real world, of course, each server makes his or her own decision to be mean or nice. Suppose that you are on a shift with 9 other servers, and some servers are being nice and others are being mean. You’re trying to decide whether to be nice or mean. What’s the payoff to you if you switch your behavior from mean to nice?

Individual payout of becoming nice: $ ---------------

d. So when are you most likely to be nice: When you’re in a tip pool or when you keep your own tips?

1-You are more likely to be nice when you keep your own tips.

2-You are equally likely to be nice in either tip arrangement.

3-You are more likely to be nice in a tip pool.

If the restaurant cares a lot about keeping its customers happy, which policy will it follow?

1-The restaurant will use a tip pool.

2-The restaurant will let servers keep their own tips.

3-The restaurant is indifferent between the two tip arrangements because it generates the same likelihood of servers being friendly.
Business
1 answer:
Gennadij [26K]3 years ago
4 0

Answer:

Check the explanation

Explanation:

a. Gains from being nice = $60

reason: outcome for being nice = $100; outcome for being mean = $40 So the gains from being nice = 100 - 40 = 60

b. Average mean server earnings = $40 (given)

Average nice server earnings = $ 100 (given)

  Change in tips per server if all of the servers switch from being mean to being nice = $60 (100 - 40)

c. Individual payoff of my becoming nice = $6

reason: Total number of servers = 10

Change to the tip pool with my change in behavior from mean to nice = $60

My share in this change = 60/ 10 =6

d.  1-I am more likely to be nice when I keep my own tips.

reason: I can keep $100 if I am nice. But in a tip pool, some of the others may be mean. This will bring the pool amount lower, thereby my share may be less than $100. So I prefer to keep my own tips.

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Peggy is the revenue manager at a 1500 room hotel. For next Friday Peggy's PMs shows 300 check-outs, 900 stayovers, 250 transien
skelet666 [1.2K]

Answer:

option (A) 150

Explanation:

Data provided in the question:

Number of rooms in the hotel = 1500

Number of checkouts = 300

Number of stayovers = 900

Number of transient arrivals = 250

Group block that begins a three stay on that day = 200

Now,

Rooms available for next Friday

= Total number of rooms - ( stayovers + transient arrivals + group block)

= 1500 - ( 900 + 250 + 200)

= 150

Hence,

the correct answer is option (A) 150

7 0
3 years ago
What are the characteristics of a high-performance work system approach to hrm?
Anvisha [2.4K]

The characteristics of a high-performance work system approach to HRM  are-

  • Focuses on collective levels of human and social capital
  • Enhances the performance of all employees systematically
  • Improves employee motivation and opportunities

Among the trends that are occurring in today's high-performance work systems are reliance on knowledge workers, empowerment of employees to make decisions, and the use of teamwork.

A high-performance work system is a bundle of HRM practices designed to promote employees' skills, motivation and involvement to enable a firm to gain a sustainable competitive advantage (Datta et al., 2005; Guthrie, 2001; Huselid, 1995), which includes employment security, extensive training, teams and decentralized

The phrase 'high-performance human resources' (HPHR) is generally taken to refer to human resource management (HRM) practices that have positive effects on the performance of an enterprise, typically a business enterprise.

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4 0
2 years ago
Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,400,000, with an addit
Travka [436]

Answer: $3,570,000

• assets installation, shipping and installation costs.

Explanation:

The The total cost of Alexander's new equipment will be calculated thus:

= $3,400,000 + $170,000

= $3,570,000

The coat of the new equipment consist of (assets installation, shipping and installation costs).

3 0
3 years ago
Fishwick Enterprises has 200,000 shares outstanding, half of which are owned by Jennifer Fishwick and half by her cousin. The tw
Ivahew [28]

Answer:

A. 20%

B.$4,000000

C. 62,500

D. $6,500,000

E $1,500,000

Explanation:

3 0
3 years ago
Bill Dukes has $100,000 invested in a 2-stock portfolio. $50,000 is invested in Stock X and the remainder is invested in Stock Y
ohaa [14]

Answer:

the portfolio´s beta is 1.65

Explanation:

when the individual calculation of beta has been given, is possible to aggregate them as a weigthed average, so it is possible to apply te next formula

Beta Portfolio=w_{1} *\beta _{1}+ w_{2} *\beta _{2} + .... + w_{n} *\beta _{n}

where w is the weigthed value for each asset, in this particular case we have:

Beta Portfolio = \frac{50.000}{100.000}*1.50 +\frac{50.000}{100.000}*1.70

so with this result we get 1.65

8 0
3 years ago
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