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Quit Ratio In industry, the relationship be- tween wages and the quit ratio of employees is defined to be the percentage of employees that
Quit Ratio In industry, the relationship be- tween 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 be- tween 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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