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(b) The management of the shipping company is considering adding extra employees and equipment to improve the average service time per terminal dock to
(b) The management of the shipping company is considering adding extra employees and equipment to improve the average service time per terminal dock to 24 minutes per truck. It would cost the company $17,000 per year to achieve this improved service. Management estimates that it will increase its profit by $950 per year for each minute it is able to reduce a truck's waiting time. (Round answers to 0 decimal places, e.g. 5,155.) Improvement in average waiting time per truck Estimated value of this time savings +A $ minutes (Round answer to 1 decimal place, e.g. 15.5.) Expected savings SA Determine whether management should make the investment.
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