When estimating a job to bid, a contractor’s estimator first determines the actual cost of labor using the function L(h) = 28.75
h, where h is the number of estimated hours it will take to complete the job. Next, the estimator adds the labor burden, which accounts for taxes and insurance, using the function B(L) = 1.78L. Finally, the estimator calculates the selling price, including the markup for overhead and profit, using the function M(B) = 1.43B. Which composite function can be used to find the selling price for the labor portion of a bid based on the estimated number of hours?
To answer this question you will need to calculate the mean for each of the Shifts and then compare those means to the mean of all the data given. I have attached a picture of the means for each shift and the population mean (all the data).
Shift 1 is the closest to the population mean. It is 37.4, and the population mean is 35.9.
