Code Blue

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Code Blue

• Miscellaneous Quantitative Problem Solutions

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Chapter 18, Supplement 2, Problem 3
Y compensation points or hourly wage
A constant, usually approximates minimum wage
B the weight the market places on this
individual job characteristic
X the amount of this individual job
characteristic in the specific job being evaluated
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Chapter 18, Supplement 2, Problem 4
Y 55 12(3) 22(1) 3(5) 128 points.
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Chapter 18, Supplement 2, Problem 5
These are the b values
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These are the X values
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Calculation
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Chapter 18, Supplement 2, 5a
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Best Approach

• Each step is the same percentage apart
• Use a financial calculator to find what that
  percent is
• number payments per year 1
• pv -20.00
• fv 30
• pmt 0
• solve for interest (answer is 8.45)

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Best Approach
20.00 x 1.0845 21.69 (step two) 21.69 x
1.0845 23.52 (step three) 23.52 x 1.0845
25.51 (step three) etc.
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Chapter 18, Supplement 2, Problem 6
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Chapter 18, Supplement 2, Problem 7
Y 4.50 0.30X --- Y 4.50 0.30(67)
24.60
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Chapter 18, Supplement 2, Problem 8
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(No Transcript)
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Indicates goodness of fit
Constant a
Betas b
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Y 2.416930371 (1.258682707 x 2)
(0.300130676 x 1) (0.978896263 x 2) 7.19
(rounded to two decimal places)
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Supplement 9, Problem 2
A. Calculate the estimated fixed and variable
costs using the high-low method
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Calculation

• First calculate slope--that gives us b or the
  variable cost per unit
• Then determine the total variable costs at the
  volume given
• Then subtract total variable costs at that volume
  from total costs to determine fixed costs

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First calculate slope--that gives us b or the
variable cost per unit
Formula is Change in Y
Change in X
5,150 - 3,700 98-69
50 per delivery
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Then determine the total variable costs at high
(or low) volume
Lets use high volume 98 x 50 4,900
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Then subtract total variable costs at that volume
from total costs to determine fixed costs
5,150 total costs - 4,900 variable costs 250
fixed costs
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Cost equation therefore is
Y 250 50x
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B. Now lets do the same thing with multiple
regression
Fixed costs
Variable cost per unit
Here the equation is Y 335.9877 49.0957X
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C. Graph Data
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D. What should budget be for 86 babies?
Y a bX 335.99 49.10(86) 4,558.89
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Supplement 9 Problem 3
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Graph
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D. Use regression methodology to calculate the
cost function in the rnage from 20 to 40 xrays.
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(No Transcript)
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Supplement 9 Problem 4
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Graph
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Supplement 9 Problem 5
Standard labor for the test would be 6 x 8.50
51.00.
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Supplement 9 Problem 6
15.00/60 minutes 0.25 per minute
4 minutes x 0.25 1.00