In industry, the relationship between wages and the quit ratio of employees is defined to be the
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In industry, the relationship between wages and the quit ratio of employees is defined to be the percentage of employees that quit within 1 year of employment. The quit ratio of a large restaurant chain that paid its employees the minimum hourly wage ($7.25 per hour) was .2 or 20 employees per 100. When the company raised the hourly wage to $8, the quit ratio dropped to .18, or 18 employees per 100.
(a) Assuming a linear relationship between the quit ratio Q(x) and the hourly wage x, find an expression for Q(x).
(b) What should the hourly wage be for the quit ratio to drop to 10 employees per 100?
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Related Book For
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
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