The Manager of the Customer Service Department at a Bank

question 52

Multiple Choice

The manager of the customer service department at a bank can hire employees with a high school degree HS) who earn $10,000 annually or employees with a bachelor's degree B) who earn $20,000.The manager wants to maximize the number of customers served given a fixed payroll. Given the above info,if the manager has a payroll of $80,000,how should the budget be allocated in order to maximize the number of customers served?

• A)Hire two HS and three B.
• B)Hire four HS and two B.
• C)Hire one HS and two B.
• D)Hire three HS and one B.

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Definitions:

Normal Model

A type of statistical distribution that is symmetric and describes how values are dispersed or spread around the mean.

Standard Deviations

Standard deviations measure the amount of variation or dispersion of a set of values from their mean, indicating how spread out the data points are.

Random Variable

A variable whose values are outcomes of a random phenomenon and are subject to variability.

Standard Deviation

A measure of the dispersion or variability in a dataset, indicating how much the individual data points differ from the mean.