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igor_vitrenko [27]
3 years ago
6

Jim has a choice between two jobs. Job A would pay him $15 an hour with certainty, and the job B is commission based where he co

uld earn $12, with a 50% probability and $18 with a 50% probability. Which job would he choose? a. Neither of the jobs b. Job A c. Job B d. He would choose to exit the labor market
Business
1 answer:
alexandr402 [8]3 years ago
8 0

Answer:

b. Job A

Explanation:

The calculation of choosing the job is given below;

Expected payoff for Job B is

= 0.50 × $12 + 0.50 × $18

= $6 + $9

= $15

And,

The Payoff from job A is $15 with certainty

Now we assume that Jim would be a risk-averse person that selects the thing i.e. sure

So he should choose Job A only

Hence, the correct option is b.

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The correct answer to this open question is the following.

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Where is a more popular place a thief would go to troy to steal your personal information?
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2 years ago
A coffee shop buys 2000 bags of their most popular coffee beans each month. The cost of ordering and receiving shipments is $12
aleksley [76]

Solution :

The optimal order quantity, EOQ = $\sqrt{\frac{2 \times \text{demand}\times \text{ordering cost}}{\text{holding cost}}}$

EOQ = $\sqrt{\frac{2 \times 2000 \times 12}{3.6}}$

        = 115.47

The expected number of orders = $\frac{\text{demand}}{EOQ}$

                                                      $=\frac{2000}{115.47}$

                                                      = 17.32

The daily demand = demand / number of working days

                               $=\frac{2000}{240}$

                              = 8.33

The time between the orders = EOQ / daily demand

                                                 $=\frac{115.47}{8.33}$

                                                  = 13.86 days

ROP  = ( Daily demand x lead time ) + safety stock

        $=(8.33 \times 8)+10$

         = 76.64

The annual holding cost = $\frac{EOQ}{2} \times \text{holding cost}$

                                         $=\frac{115.47}{2} \times 3.6$

                                         = 207.85

The annual ordering cost = $\frac{\text{demand}}{EOQ} \times \text{ordering cost}$

                                           $=\frac{2000}{115.47} \times 12$

                                           = 207.85

So the total inventory cost = annual holding cost + annual ordering cost

                                            = 207.85 + 207.85

                                            = 415.7

6 0
2 years ago
Job enrichment differs from job rotation in that job enrichment Select one: a. empowers workers by adding more decision-making a
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Answer:

a. empowers workers by adding more decision-making authority to their jobs.

Explanation:

Job enrichment differs from job rotation in that job enrichment empowers workers by adding more decision-making authority to their jobs.

Job enrichment can be defined as a strategic approach or technique adopted by organizations, which typically involves the process of adding more authority, dimensions and responsibility to the job of an employee in order to get them motivated and induce greater satisfaction. For example, an employee whose job description is to stock shelves, could be enriched to take customer orders, incoming inventory and closing sales.

On the other hand, job rotation can be defined as the process in which employees are shifted or moved from one job function to another at regular intervals in order to boost their knowledge, skills and experience.

4 0
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