Chapter 3.7, Problem 27E

Safelite guaranteed an $11 hourly wage when it rolled out performance pay, so it paid installers $20 per windshield or $11 per hour, whichever was greater. How many windshields must a worker install in an 8-hour day for performance pay to equal the $11 hourly wage? Workers installed 2.5 windshields per day before performance pay. Did it take a little or a lot of extra effort to reach the “incentive zone”?

A chef must decide how many chocolate lava cakes to prepare for the upcoming Mother's Day Dinner special.  The chef can either prepare 50, 100, or 150 lava cakes.  Assume that demand for the lava cakes can be 50, 100, or 150.  Each dish costs $5 to make and is priced at for $7 on the menu.  Unsold cakes are donated to a nearby charity center.  Assume that there is no opportunity cost for lost sales. The cafe owner told the chef that in the past years, the probability that clients will order 50 cakes is 0.30; the probability they will order 100 cakes is 0.50, and the probability that they will order 150 cakes is 0.20. What is the EVPI?

You are raising money for a charity. Someone made a fixed donation of 500. Then, you require each participant to make a pledge of 25 dollars. What is the minimum amount of money raised if there are 224 participants.

The manager of a car rental agency knows from experience that all 300 cars will be rented if the fee is $65 a day. A market survey suggests that, on average, 12 fewer cars will be rented for each $6 increase in price. What is our max revenue? $23,112.50 $46,225.00 $19,500.00 $36,000.00

The Thunderbirds professional indoor soccer team has 900 season ticket holders. The management of the team wants to increase the current price of $400. A survey indicated that for every $20 increase in price, the team will lose 15 season ticket holders. What is the maximum revenue the team could receive and at what price would this occur?

Frankie must have an average mark of 50% to pass her art history class. There are 6 equally weighted tests in the course. Frankie received 50% on four of the five tests and 52% on one of the tests. What is the minimum mark that Frankie must achieve on her sixth test in order to pass the course?

To receive a grade of A, the average of four 100-point exams must be 90 or better. If a student received scores of 87, 84, and 95 on the first three exams, what minimum score does he need on the fourth exam to earn an A?

a. Find the number of bicycles that must be manufactured to minimize the cost. b. Find the cost

The profit, P, on a $2 muffin is 75%. At least 100 muffins must be sold in a day. The expression for the minimum daily profit, P, is Select one: O O a. P> $150 b. P> $100 c. P> $150 d. P = $150