Research Productivity A major drug company estimates that the annual number P of patents for new drugs developed by its research team is best modeled by the formula P = 0.3 x 0.3 y 0.4 z 0.3 , where x is the number of research biochemists on the payroll, y is the annual research budget, and z is the size of the bonus awarded to discoverers of new drugs. Assuming that the company has 12 biochemists on the staff, has an annual research budget of $500,000, and pays $40,000 bonuses to developers of new drugs, calculate the rate of growth in the annual number of patents per new research staff member.
Research Productivity A major drug company estimates that the annual number P of patents for new drugs developed by its research team is best modeled by the formula P = 0.3 x 0.3 y 0.4 z 0.3 , where x is the number of research biochemists on the payroll, y is the annual research budget, and z is the size of the bonus awarded to discoverers of new drugs. Assuming that the company has 12 biochemists on the staff, has an annual research budget of $500,000, and pays $40,000 bonuses to developers of new drugs, calculate the rate of growth in the annual number of patents per new research staff member.
Solution Summary: The author calculates the rate of growth in the annual number of patents per new research staff member.
Research Productivity A major drug company estimates that the annual number P of patents for new drugs developed by its research team is best modeled by the formula
P
=
0.3
x
0.3
y
0.4
z
0.3
, where x is the number of research biochemists on the payroll, y is the annual research budget, and z is the size of the bonus awarded to discoverers of new drugs. Assuming that the company has 12 biochemists on the staff, has an annual research budget of $500,000, and pays $40,000 bonuses to developers of new drugs, calculate the rate of growth in the annual number of patents per new research staff member.
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