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Employees at a Large Computer Company Earn Sick Leave in One-Minute

question 103

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Employees at a large computer company earn sick leave in one-minute increments depending on how many hours per month they work. They can then use the sick leave time any time throughout the year. Any unused time goes into a sick bank account that they or other employees can use in the case of emergencies. The human resources department has determined that the amount of unused sick time for individual employees is uniformly distributed between 0 and 480 minutes. The company has decided to give a cash payment to any employee that returns over a specified amount of sick leave minutes. Assuming that the company wishes no more than 5 percent of all employees to get a cash payment, what should the required number of minutes be?

Definitions:

SCOR Model

A framework developed by the Supply Chain Council that describes the business activities associated with satisfying a customer's demand, which include plan, source, make, deliver, return, and enable.

Scorecards

Tools used to measure and report on the performance of an organization, department, or process against predefined goals.

Key Performance Indicators

Quantifiable measures that a company uses to gauge or compare performance in terms of meeting their strategic and operational goals.

Index

A statistical measure or indicator that represents the performance or price of a specific set of stocks, securities, or other items.