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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
Your company just won a bid to provide 500000 electronic components to IBM, but IBM is in a hurry. For every working day that goes by, the contract decreases in value by $500. It costs $150 to train each worker you use to assemble components and a well-trained worker can produce 15 components per day.
a)Write a formula for the total reduction in value of the contract (including paying for workers) after t days.
The reduction in value is ?
b)Â How many workers should you use and how long will you take to fulfill the contract? (Note: in terms of the contract any portion of a day counts as a whole day.)
It will take ? days to fulfill the contract.
As a result, I should use ? workers.
Â
c)What must the initial value of the contract be in order for it to be at least break even for your company after the optimal number of days?
it must be worth ? dollars
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