In industry, the relationship between 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 between 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?
In industry, the relationship between 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 between 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?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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In industry, the relationship between 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 between 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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