You are the manager of the customer service department at a bank and you want to hire customer service representatives for a newly opened bank branch. You realize that you can hire employees with a high school degree (HS) who earn $10,000 annually or employees with a bachelor's degree (B) who earn $20,000. You want to maximize the number of customers served given a fixed payroll. The table below presents historical data on the number of customers served for the given number of workers in each category.
|
|
Number of Customers Served
|
|
No. of Workers
|
High School Degree
|
Bachelor's Degree
|
|
1
|
80
|
90
|
|
2
|
140
|
170
|
|
3
|
190
|
230
|
|
4
|
230
|
270
|
|
5
|
265
|
305
|
|
6
|
295
|
330
|
- You are provided with a payroll budget of $80,000, and your objective is to maximize the number of customers served. How would you allocate the budget in order to achieve your objective?
- Your assistant suggested that you hire three HS and three B; would you accept the suggestion and act accordingly? Why? Or Why not?
If your payroll (budget) is increased to $120,000, what should you do to maximize the number of customers served?