Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 0 - 4 3 Incentive Pay Formula Development A restaurant manager has the following goals: ( 1 ) serve 3 0 0 customers per
Incentive Pay Formula Development A restaurant manager has the following goals: serve customers per day and
achieve an average price per customer of $ The restaurant is open days per year. The two goals are equally important.
The manager's salary is $ The manager's incentive pay ie bonus should be $ if both goals are achieved.
Required
Assuming the compensation function is linear, determine the following amounts in the contract:
a The rate per customer served, rounded to four decimal points.
b The rate per penny of average price per customer, rounded to four decimal points.
Independent of your answer to requirement assume that the rate is $ per customer served and $ per penny of average
price per customer. Calculate the manager's total compensation if the restaurant serves customers per day at an average price of
$ Round your final answer to the nearest dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started