Quality Cleaners specializes in cleaning apartment units and office buildings. Although the work is not too enjoyable,
Question:
Quality Cleaners specializes in cleaning apartment units and office buildings. Although the work is not too enjoyable, Joe Boyett has been able to realize a considerable profit in the Chicago area. Joe is now thinking about opening another Quality Cleaners in Milwaukee. To break even, Joe would need to get 200 cleaning jobs per year. For every job under 200, Joe will lose $80. Joe estimates that the average sales in Milwaukee are 350 jobs per year, with a standard deviation of 150 jobs. A market research team has approached Joe with a proposition to perform a marketing study on the potential for his cleaning business in Milwaukee. What is the most that Joe would be willing to pay for the market research?
Step by Step Answer:
Quantitative Analysis For Management
ISBN: 162
11th Edition
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna