Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

My-law.com is evaluating the option of running a training program. A trained lawyer would be able to achieve a 20% reduction in the average time

My-law.com is evaluating the option of running a training program. A trained lawyer would be able to achieve a 20% reduction in the average time to respond to customer requests. Moreover, because the training program involves introducing a standardized work procedure, the standard deviation of service times will be reduced by 40% compared to before. An industry study has estimated that the cost of customer dissatisfaction from waiting for the response e-mail is $10 per hour. The training program will cost My-law.com $27,000. How long will it take My-law.com to break even? Assume 30 days per month, and My-law.com opens everyday (including weekends)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managing Information Technology

Authors: Carol Brown, Daniel DeHayes, Jeffrey Hoffer, Wainright Marti

7th Edition

132146320, 978-0132146326

More Books

Students also viewed these General Management questions

Question

305 mg of C6H12O6 in 55.2 mL of solution whats the molarity

Answered: 1 week ago