At a career fair there are two types of job seekers, ones with low experience (Elow) and those with high experience (Ehigh). 70
Elows arrive per hour and 30 Ehighs arrive per hour. The Elows first meet with a coach to go over their resume and to get interviewing tips. Coaching takes 10 minutes and there are 11 coaches. The Ehighs skip coaching and go directly to interviews with prospective employers. There are 40 employers doing interviews. Each interview with an Elow takes 15 minutes. Each interview with an Ehigh takes 30 minutes.
Instructions: Round all answers to 1 decimal place.
(a) What is the implied utilization (%) for each step in this process?
Coaching %
Interviews %
(b) What are the actual and maximum flow rates of each type of job seeker per hour?
Elows per hour
Ehighs per hour
Instructions: Round all answers to 1 decimal place.
(a) What is the implied utilization (%) for each step in this process?
Coaching %
Interviews %
(b) What are the actual and maximum flow rates of each type of job seeker per hour?
Elows per hour
Ehighs per hour
1 answer:
Answer:
Check the explanation
Explanation:
Coaching
Implied utilization
Arrival of Elows = 70 per hour
Coaching time = 10 mins per Elow
Total Workload= 70*10 = 700 coaching mins
Available coaching hours = 11*60 = 660 mins
Implied utilization = Total demand / Available capacity
= 700/660
= 1.0606
Maximum flowrate = 660/10 = 66 Job seekers per hour ( or Elows per hour)
Actual flowrate = 66 Job seekers per hour (as this process is bottleneck)
Interview process
Total workload = 70*15+30*30
=1950 mins
Available capacity = 40*60 = 2400 mins
Implied Utilization = 1950/2400 = 0.8125
Expected interview time = (0.70*15+0.30*30)
Maximum flow rate = 2400/(0.70*15+0.30*30)
=123.0769 job seekers per hour
Actual flow rate:
Actual arrival rate of Elows (from Coaching process) =66 Elows per hour
So, Total arrivals =66+30 = 96
Since, this process has capacity more than demand
Actual flow rate = 96 job seekers per hour
kindle check the attached image below see the diagram explaming .
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Answer: Correct. When there is an increase in supply and an increase in demand, the new equilibrium quantity increases but whether the equilibrium price increases or decreases is unknown.
Explanation:
When the demand for the shoes increased, it had the effect of shifting the demand curve to the right. At the same time, with six more firms coming into the market, the supply increased as well which had the effect of shifting the supply curve right as well.
The new equilibrium as a result of these movements will see the quantity increase. However, due to the shift of both the supply and the demand curve in the same direction, it is uncertain if the price will change or not.
The general rule is that if the rise in supply is more than rise in demand then the price will decrease. If they rise by the same amount then price will remain the same. It shows therefore that if both supply and demand rise at the same time, the effect on equilibrium price is unknown.
