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AfilCa [17]
3 years ago
10

A methods and measurement analyst wants to develop a time standard for a certain task. In a pre-liminary study, he observed one

worker perform the task six times with an average observed time of 20 seconds and a standard deviation of two seconds. What is the standard time for this task if the employee worked at a 20 percent faster pace than average, and an allowance of 25 percent of job time is used? a. 20 seconds.b. 25 seconds.c. 26.7 seconds.d. 30 seconds.e. 32 seconds.
Business
1 answer:
DENIUS [597]3 years ago
4 0

Answer:

e. 32 seconds.

Explanation:

The computation of the standard time is shown below:

= (Normal time) ÷ (1 - allowance of percent of job time)

where,

Normal time = 20 seconds × 1.2 = 24 seconds

The 1.20 is come from 1 + 20%

And, the allowance of percent of job time is 25%

So, the standard time is

= (24 seconds) ÷ (1 - 0.25)

= (24 seconds) ÷ (0.75)

= 32 seconds

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Solution:

1)

Profit function of customised bicycle customers, P1 = d1*(p1-c)

= (11000-25p1)*(p1-160)

= 11000p1-1760000-25p1^2+4000p1

= -25p1^2+15000p1-1760000

In order to the profit maximizing price, equate the first order derivative of profit function to 0

dP1/dp1 = d(-25p1^2+15000p1-1760000)/dp1 = 0

=> -50p1+15000 = 0

=> p1 = 300

Profit function of price sensitive customers, P2 = d2*(p2-c)

= (11000-45p2)*(p2-160)

= 11000p2-1760000-45p2^2+7200p2

= -45p2^2+18200p2-1760000

In order to the profit maximizing price, equate the first order derivative of profit function to 0

dP2/dp2 = d(-45p2^2+18200p2-1760000)/dp2 = 0

=> -90p2+18200 = 0

=> p2 = 202.22

Price to be charged for customised segment = $ 300

Price to be charged for price sensitive segment = $ 202.22

------------------------------------------------------------

2)

Considering single price, p

Total profit from both segments, P = (d1+d2)*(p-160)

= (11000-25p+11000-45p)*(p-160)

= (22000-70p)*(p-160)

= 22000p-3520000-70p^2+11200p

= -70p^2+33200p-3520000

In order to the profit maximizing price, equate the first order derivative of profit function to 0

dP/dp = d(-70p^2+33200p-3520000)/dp = 0

=> -140p+33200 = 0

=> p2 = 237.14

3)

This is solved by Solver as follows:

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8 0
3 years ago
If the price of steak rises, a consumer who had been maximizing his or her utility before will buy less steak because its?
Naddik [55]

If the price of steak rises, a consumer who had been maximizing his or her utility before will buy less steak because its "marginal utility to price ratio is now lower than for other items."

<h3>What is marginal utility?</h3>

In economics, marginal utility is the optimum quality or benefit (utility) which a buyer receives by purchasing an additional units of a product or service.

Some key features regrading the marginal utility are-

  • The concept means that the utility and benefit of an extra unit of a product to a consumer is proportional to the quantity of units of such a product he currently owns.
  • The given example shows marginal usefulness.
  • The marginal value of one piece of bread provided to a family of seven will be considerable, because the family will be less hungry, as well as the difference between 7 and 8 is proportionally significant.
  • A extra bread slice supplied to a family with 30 slices, on the other hand, has less marginal utility so because difference among 30 & 31 is proportionally lower and the family's hunger has already been satisfied.
  • Thus, as a consumer of a product purchases further and more of the commodity, his marginal utility drops until he has no need for any extra units at all.
  • The marginal utility then is equal to zero.

To know more about the marginal utility, here

brainly.com/question/15050855

#SPJ4

5 0
2 years ago
As the information technology advances and consumers buy products requiring more and more technology, the wages of people with h
Katyanochek1 [597]

Answer:

b. increase as the demand for high tech skills increases.

Explanation:

Due to the fact that the demand for technological products is increasing, the demand for people who possess high tech skills would also increase as firms would want to provide more tech products to satisfy the demand of consumers.

This would lead to an increase the demand for people with high tech skills. When demand exceeds supply, wages would rise.

I hope my answer helps you

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