The percentage of employees who cease their employment during a year is referred to as employee turnover, and it is a serious issue for businesses. The following table shows the cost, in millions of dollars, to a certain company for a given employee turnover percentage in a year.

The percentage of employees who cease their employment during a year is referred to as employee turnover, and it is a serious issue for businesses. The following table shows the cost, in millions of dollars, to a certain company for a given employee turnover percentage in a year.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.3: Modeling Data With Linear Functions

Problem 1E: Employee Turnover The percentage of employees who cease their employment during a year is referred...

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Question

The percentage of employees who cease their employment during a year is referred to as employee turnover, and it is a serious issue for businesses. The following table shows the cost, in millions of dollars, to a certain company for a given employee turnover percentage
in a year.
E = employee turnover 10 20 30 40
C = cost
200 340 480 620
(a) Show that the data can be modeled by a linear function.
For each increase in employee turnover by ten percent the cost increases by
(b) Find the slope of the linear function.
million dollars per percentage point
Enter an exact number.
(c) Find a linear model for the data.
C(E) =
million dollars.
(d) Use the result from part (c) to find the cost to the company if employee turnover is 22% in a year.
million dollars

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