SOM HW #1 - weekly homework mandatory 30% of grade. PDF

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weekly homework mandatory 30% of grade....

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Karina Arakelian SOM 306, Tues. Thurs. 4:00-5:15pm January 31, 2017 #1

Chapter 2: 1-9 (pp. 65-66)

1) A catering company prepared and served 300 meals at an anniversary celebration last week using eight workers. The week before, six workers prepared and served 240 meals at a wedding reception. a) For which event was the labor productivity higher? Explain. 300/8= 37.5 & 240/6= 40 The productivity of the first week was higher because they ended up making more meals with fewer workers. b) What are some possible reasons for the productivity differences? Just the overall work ethic of different workers could be possible reason for the difference. Or even the possibility that some were more thoroughly trained versus others. 2)Th ema n a g e ro fac r e wt h a ti n s t a l l sc a r p e t i n gh a st r a c k e dt h ec r e w’ sou t p u to v e rt h e pa s t s e v e r a lwe e k s . Co mp ut et h el a b o rpr o du c t i v i t yf o re a c ho ft h ewe e k s . Ont h eb a s i s ofy o u rc a l c u l a t i o n s , wh a tc a ny o uc o n c l u dea b o u tc r e ws i z ea n dp r od u c t i v i t y ? Pr o d u c t i v i t y : We e k1 -2 4 2 -2 4 3 -2 3 4 -2 5 5 -2 3 6 -2 6

Thep r o d u c t i v i t yi sh i g h e rwi t hf e we rwo r k e r s .

3 )Co mp u t et h emu l t i f a c t o rp r o du c t i v i t yme a s u r ef o re a c hoft h ewe e k ss ho wnf o r pr o d u c t i o no fc h o c o l a t eb a r s . Wh a td ot h ep r o d u c t i vi t yfig u r e ss u g g e s t ?As s ume4 0 ho u rwe e k sa n da nh o u r l ywa g eo f$ 1 2 .Ov e r h e a di s1 . 5t i me swe e kl yl a b o rc o s t . Ma t e r i a lc o s ti s$ 6p e rp ou n d . Week 1: = 30,000 / (40*12*6) + [(40*12*6)*1.5] + (450*6) = 30,000 / 9900 = 3.030303 Week 2: = 33,600 / (40*12*7) + [(40*12*7)*1.5] + (470*6) = 33,600 / 11220 = 2.994652

Week 3: = 32,200/ (40*12*7) + [(40*12*7)*1.5] + (450*6) = 32,200/ 11100 = 2.9009009 Week 4: = 35,400 / (40*12*8) + [(40*12*8)*1.5] + (470*6) = 35,400/ 12420 = 2.85024155 

The Multi-factor productivity dropped gradually from about 3.03 to about 2.85 4 )Ac omp a n yt h a tma k e ss h o pp i n gc a r t sf o rs u p e r ma r k e t sa n do t h e rs t or e sr e c e n t l y p ur c ha s e ds o men e we q ui p me n tt h a tr e d u c e st h el a b o rc o n t e n to ft h ej o b sn e e d e dt o p r o d u c et h es h o pp i n gc a r t s . Pr i ort ob u y i n gt hen e we q ui p me nt , t h ec o mpa n yu s e dfiv e wo r k e r s , wh op r od u c e da na v e r a g eo f8 0c a r t sp e rh ou r . Wo r k e r sr e c e i v e$ 1 0p e rh o u r , a n dma c h i nec os twa s$ 4 0p e rh o u r . Wi t ht hen e we qui pme n t ,i twa sp o s s i b l et o t r a n s f e ro n eo ft h ewo r k e r st oa n o t h e rd e p a r t me n t , a n de q ui p me n tc o s ti n c r e a s e db y $ 10p e rh ou rwh i l eo ut p u ti nc r e a s e db yf o u rc a r t spe rh o u r . a )Co mp u t el a b o rp r o d u c t i v i t yu n d e re a c hs y s t e m. Us ec a r t sp e rwo r k e rp e rh o u ra st h e i o rt ob uy i n g :8 0 / 5=1 6c a r t sp e rwo r k e rp e rh ou r me a s u r eo fl a b o rpr o d u c t i v i t y .Pr Af t e rb u y i n g :8 4 / 4=2 1c a r t sp e rwo r k e rpe rh o u r b )Co mp u t et h emu l t i f a c t o rp r o d u c t i v i t yun d e re a c hs y s t e m. Us ec a r t sp e rdo l l a rc o s t ( l a bo rp l u se qu i p me n t )a st heme a s u r e .Pr i o rt ob u yi n g:10*5 = 50 + 40 = 90 80/90 = .89 carts per $1 After buying: 10*4 = 40 + 50 = 90 84/90 = .93 carts per $1 c )Co mme n to nt h ec h a n g e si np r od u c t i v i t ya c c o r d i n gt ot h et wome a s ur e s , a n do n whi c ho n ey o ub e l i e v ei st h emo r ep e r t i n e n tf ort h i ss i t u a t i o n . The labor productivity increased by 31 percent, & the multifactor productivity increased by 4.5 percent.

5 )Anop e r a t i o nh a sa1 0p e r c e nts c r a pr a t e . Asar e s ul t , 7 2p i e c e sp e rh ou ra r e p r o d u c e d. Wh a ti st h ep o t e nt i a li n c r e a s ei nl a b o rp r o d u c t i vi t yt h a tc o u l db ea c h i e v e dby eliminating the scrap? . 90x = 72 therefore x=80 72+s =80 s = 80-72 Potential increase in labor productivity would be 8/12 = 11.11% 6 )Ama n a g e rc h e c k e dp r o d u c t i o nr e c o r d sa n df o u n dt h a tawo r k e rpr o du c e d1 60u ni t s whi l ewo r ki n g40h ou r s .I nt hep r e v i o u swe e k ,t h es a mewo r k e rp r o d uc e d1 3 8u n i t s whi l ewo r ki n g36h ou r s .Di dt h ewo r k e r ’ sp r od u c t i v i t yi n c r e a s e , d e c r e a s e , o rr e ma i n t h es a me ?Ex p l a i n .1 6 0 / 4 0=4& 1 38 / 3 6=3.833 The increase of 4 hours increased productivity by .167 (4-3 .833) and output by 22 (160-138).

7 )Th ef o l l o wi n gt a b l es h o wsd a t ao nt h ea v e r a g en umb e rofc u s t o me r sp r o c e s s e db y s e v e r a lb a n ks e r vi c eu n i t se a c hd a y . Th eh o u r l ywa g er a t ei s$2 5 , t h eo v e r h e a dr a t ei s 1 . 0t i me sl a bo rc o s t , a n dma t e r i a lc o s ti s$ 5p e rc u s t o me r . a )Comp u t et h el a b orp r o d u c t i v i t ya ndt h emu l t i f a c t o rpr o du c t i vi t yf o re a c hu n i t . Us e a ne i g h t h o u rd a yf ormu l t i f a c t o rp r o d u c t i v i t y . La b o rPr o d u c t i vi t y :

Mu l t i f a c t o rPr o d u c t i v i t y :

3 6/ 4 =9 4 0/ 5 =8 6 0/ 8 =7 . 5 2 0/ 3 =6 . 7

3 6 /4* 8 * 2 5 +( 3 6 * 5 ) = 4 0 /5* 8 * 2 5 +( 4 0 * 5 ) = 6 0 /8* 8 * 2 5 +( 6 0 * 5 ) = 2 0 /3* 8 * 2 5 +( 2 0 * 5 ) =

b )Su p p o s ean e w,mo r es t a n d a r d i z e dpr o c e d ur ei st obei n t r o d u c e dt h a twi l le n a b l e e a c he mp l o y e et op r o c e s so n ea d d i t i o n a lc u s t o me rp e rd a y . Co mp u t et h ee xp e c t e dl a b o r a n dmu l t i f a c t o rpr o du c t i v i t yr a t e sf o re a c hu ni t .

8 )Apr o pe r t yt i t l es e a r c hfir mi sc o n t e mp l a t i n gu s i n go n l i nes o f t wa r et oi nc r e a s ei t s s e a r c hp r o d u c t i v i t y . Cur r e n t l ya na v e r a g eo f40mi nut e si sn e e d e dt od oat i t l es e a r c h . Th er e s e a r c h e rc o s ti s$ 2p e rmi n u t e . Cl i e nt sa r ec h a r g e daf e eo f$ 4 0 0 . Co mp a n yA’ s s o f t wa r ewo ul dr e d uc et h ea v e r a g es e a r c ht i meb y1 0mi n u t e s ,a tac o s to f$ 3 . 5 0p e r s e a r c h .Co mp a n yB’ ss of t wa r ewo u l dr e d u c et h ea v e r a g es e a r c ht i meb y1 2mi n u t e sa ta c o s to f$ 3 . 6 0p e rs e a r c h . Wh i c ho p t i o nwo u l dha v et h eh i g h e rp r o d u c t i v i t yi nt e r mso f r e v e n u ep e rd o l l a ro fi n p ut ? Cu r r e n t l y :4 0 * 2=8 0 40 0/ 80=$ 5 Co mp a n yA:3 0 * 2+3 . 5 0=6 3 . 5 4 0 0 / 6 3 . 5=6 . 2 99 2 1 2 6o r$ 6. 3 0 Co mp a n yB:2 8 * 2+3 . 6 0=59 . 6 4 0 0/5 9 . 6=6 . 71 1 4 0 9 4o r$6 . 7 1 Co mp a n yBwo u l dbet h eh i gh e s ti np r o d u c t i v i t y . 9 )Ac omp a n yoffe r sI Dt h e f tp r o t e c t i o nus i n gl e a d so b t a i n e df r o mc l i e n tba n k s . Th r e e e mpl o y e e swo r k4 0ho u r sawe e ko nt h el e a d s , a tap a yr a t eo f$ 2 5p e rh o u rp e r e mpl o y e e . Ea c he mp l o y e ei d e nt i fie sa na v e r a g eo f3 , 0 0 0p o t e n t i a ll e a d sawe e kf r o ma l i s to f5 , 0 0 0 . Ana v e r a g eo f4p e r c e n ta c t u a l l ys i gnu pf o rt h es e r v i c e , p a y i n gao ne t i mef e eof$ 7 0 . Ma t e r i a lc o s t sa r e$ 1, 0 0 0p e rwe e k,a ndo v e r h e a dc o s t sa r e$ 9, 0 0 0p e r we e k . Ca l c u l a t et h emu l t i f a c t o rp r o d uc t i v i t yf o rt hi so pe r a t i o ni nf e e sg e n e r a t e dp e r d ol l a ro fi n p u t . La b o rCos t :4 0* 2 5* 3=3 0 0 0 /we e k

Qua n t i t yPr o d uc e d:( 30 0 0* . 0 4 )*7 0=8 4 0 0 /we e k Ma t e r i a lCo s t +Ov e r he a d :1 0 00+9 0 0 0=1 0 0 0 0c o s t s /we e k 8 40 0 / 1 30 0 0=$ 0 . 6 5...