The President of a Consulting Firm Wants to Minimize the Total

question 63

Multiple Choice

The president of a consulting firm wants to minimize the total number of hours it will take to complete four projects for a new client. Accordingly, she has estimated the time it should take for each of her top consultants-Charlie, Betty, Johnny, and Rick-to complete any of the four projects, as follows: $$\begin{array} { c } \quad \quad \quad \quad \quad { \text { Project (Hours) } } \\\begin{array} { l c c c c } \text { Consultant } & \text { A } & \text { B } & \text { C } & \text { D } \\\hline \text { Charlie } & 13 & 16 & 11 & 13 \\\text { Betty } & 11 & 15 & 14 & 18 \\\text { Johnny } & 15 & 22 & 12 & 15 \\\text { Rick } & 17 & 17 & 12 & 22\end{array}\end{array}$$ After the row and column reductions, what is the reduced time for assigning Rick to project D?

• A) 0 hours
• B) 8 hours
• C) 10 hours
• D) 9 hours
• E) 22 hours

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Definitions:

Monetary Control Act

A United States federal law enacted in 1980 aimed at improving the Federal Reserve's control over the monetary supply and interest rates.

Thrift Institutions

Financial organizations focused on savings and mortgage lending, including savings and loan associations, credit unions, and savings banks.

Commercial Banks

Financial institutions that offer a wide range of services including deposit accounts, loans, and other financial products to businesses and consumers.

Contractionary Monetary Policy

To fight inflation, the Federal Reserve decreases the money supply.