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AA company that has a definite plan for expansion will need to hire and train 60 new engineers per year. The cost of running a training program is $20,000, independent of the number of trainees. These engineers earn annual salaries of $30,000, so the com- nany prefers not to hire and train them before they are needed. On the other hand, hev must be available when they are needed; and since it costs so much to train them, they will be trained in advance of the time they are needed and in groups. They receive full salary while in the pool of trained, but not yet needed, engineers. What should the training-group size be, how often will the six-week training sessions be held, and how much will this program cost the company?

AA company that has a definite plan for expansion will need to hire and train 60 new engineers per year. The cost of running a training program is $20,000, independent of the number of trainees. These engineers earn annual salaries of $30,000, so the com- nany prefers not to hire and train them before they are needed. On the other hand, hev must be available when they are needed; and since it costs so much to train them, they will be trained in advance of the time they are needed and in groups. They receive full salary while in the pool of trained, but not yet needed, engineers. What should the training-group size be, how often will the six-week training sessions be held, and how much will this program cost the company?

Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN:9781305627734
Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Chapter5: Probability: An Introduction To Modeling Uncertainty
Section: Chapter Questions
Problem 18P: The J.R. Ryland Computer Company is considering a plant expansion to enable the company to begin...
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G A company that has a definite plan for expansion will need to hire and train 60 new engineers per year. The cost of running a training program is $20,000, independent of he number of trainees. These engineers earn annual salaries of $30,000, so the com- pany prefers not to hire and train them before they are needed. On the other hand, they must be available when they are needed; and since it costs so much to train them, hey will be trained in advance of the time they are needed and in groups. They receive full salary while in the pool of trained, but not yet needed, engineers. What should the training-group size be, how often will the six-week training sessions be held, and how much will this program cost the company?
Transcribed Image Text:G A company that has a definite plan for expansion will need to hire and train 60 new engineers per year. The cost of running a training program is $20,000, independent of he number of trainees. These engineers earn annual salaries of $30,000, so the com- pany prefers not to hire and train them before they are needed. On the other hand, they must be available when they are needed; and since it costs so much to train them, hey will be trained in advance of the time they are needed and in groups. They receive full salary while in the pool of trained, but not yet needed, engineers. What should the training-group size be, how often will the six-week training sessions be held, and how much will this program cost the company?
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