After Graduating from College, You Are Hired to Work in a Factory

question 174

Essay

After graduating from college, you are hired to work in a factory overseas as an industrial psychologist. The workers put together iPads. The boss wants to know the best pay schedule to get the maximum number of pieces made by his workers. The boss wants you to describe various schedules of payment to him and tell which might be best for the plant. Using the principles of operant conditioning, describe the various pay schedules and what would be the best one for his goal of getting the most production.

---

Definitions:

Economic Probabilities

The likelihood of various economic outcomes occurring, based on assumptions about market and economic conditions.

Expected Return

The anticipated return on an investment over a specified period, integrating all possible outcomes.

Portfolio Weights

Percentage of a portfolio’s total value in a particular asset.

Market Values

The listed market price for an asset or service available for immediate transaction.