Question
Central Bank of Commerce and Industry is a busy bank that has requirements for up to 20 tellers depending om the time of day. The
Central Bank of Commerce and Industry is a busy bank that has requirements for up to 20 tellers depending om the time of day. The table below indicates the workers needed at various hours when bank is open.
Time Period | Number of Tellers Required |
9 am 11 am | 15 |
11 am 1 pm | 18 |
1 pm 3 pm | 20 |
3 pm 5 pm | 14 |
The bank plans to employ a mix of full time and part time tellers. A full time is a permanent worker getting monthly salary which translates to $ 125 per day. A part time employee can be hired on hourly basis from the available pool of part time job applicants. Since, there is no restrictions of full-time salary for for part time tellers, hence bank has decided to position hourly rate for part time tellers at $ 30 per hour (a slightly higher rate than full time tellers on hourly basis)
Identify the optimal mix of full-time and part-time workers for Central Bank of Commerce and industry
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