Assume a Lab Test Requires 15 Minutes of a Technician's

question 24

Multiple Choice

Assume a lab test requires 15 minutes of a technician's time to draw one vial of blood and lab techs work 2080 hours per year. If 56,000 lab tests are forecasted for the upcoming year, the total man hours (FTEs) needed to complete these tests will be

• A) Less than 8320 hours (< 4 FTEs)
• B) 8320 hours plus or minus 100 hours (4 FTEs +/-)
• C) More than 8320 hours (> 4 FTEs)
• D) Cannot be determined

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Definitions:

Compound Interest

Interest for a loan or deposit that includes calculations on the original principal amount as well as the interest accumulated from earlier periods.

Decimal Multiplication

A mathematical operation involving the multiplication of numbers represented in decimal form.

Compound Interest

Calculating interest by including both the original principal amount and the interest that has been piled up from former periods.

Exponential Functions

Mathematical functions describing growth or decay at rates proportional to the value of the function at any point in time.