document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1198820>Question 1198820</A>: <I><SPAN STYLE=\"word-break: break-all;\"> It cost Company Y 3,500 to 12,000 to hire each employee. The company needs to hire 8 new employees asap. Each employee makes 35 to 45 dollars an hour depending on experience. Employees with experience are offered a sign on bonus of 3,500 to 6500 depending on experience. Company Y is open from 9am-5pm and makes 50,000 a day. Company Y has a budget of 49,000 to hire new employees. Which employees should Company Y hire to maximize profit?\r<BR>\n" );
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document.write( "Delivery Driver (produces 58,000) in profit each month (Cost 12,000 to hire)<BR>\n" );
document.write( "Sr Operations Admin (produces 57,000)in profit each month (11,000 to hire)<BR>\n" );
document.write( "Daily Operations (3,500 to 9,000 to hire) produces (25,000 to 33,00)in profit each month depending on experience.\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #848228 by </B><A HREF=/tutors/aboutme.mpl?userid=textot><B>textot(100)</B></A><img src=\"/images/stars/stars-08.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=textot><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=848228\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> **1. Determine Potential Employee Types**\r<BR>\n" );
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document.write( "* **Delivery Drivers:**<BR>\n" );
document.write( "    * Hiring Cost: $12,000 <BR>\n" );
document.write( "    * Monthly Profit: $58,000<BR>\n" );
document.write( "    * High Profit Potential\r<BR>\n" );
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document.write( "* **Sr. Operations Admin:**<BR>\n" );
document.write( "    * Hiring Cost: $11,000<BR>\n" );
document.write( "    * Monthly Profit: $57,000<BR>\n" );
document.write( "    * High Profit Potential\r<BR>\n" );
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document.write( "* **Daily Operations:**<BR>\n" );
document.write( "    * Hiring Cost: $3,500 - $9,000 (Variable)<BR>\n" );
document.write( "    * Monthly Profit: $25,000 - $33,000 (Variable)<BR>\n" );
document.write( "    * Lower Profit Potential Compared to the Other Two Roles\r<BR>\n" );
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document.write( "**2. Budget Considerations**\r<BR>\n" );
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document.write( "* **Hiring Budget:** $49,000<BR>\n" );
document.write( "* **Number of Positions:** 8\r<BR>\n" );
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document.write( "**3. Prioritize Hiring**\r<BR>\n" );
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document.write( "* **Given the budget constraints and the high profit potential, prioritize hiring Delivery Drivers and Sr. Operations Admins.**\r<BR>\n" );
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document.write( "**4. Hiring Strategy**\r<BR>\n" );
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document.write( "* **Calculate Potential Hiring Combinations:** Explore different combinations of Delivery Drivers, Sr. Operations Admins, and Daily Operations employees within the budget constraints. <BR>\n" );
document.write( "* **Consider the following factors:**<BR>\n" );
document.write( "    * **Profit Margin:** Calculate the potential monthly profit for each combination.<BR>\n" );
document.write( "    * **Hiring Costs:** Ensure the total hiring costs for the combination do not exceed the budget.<BR>\n" );
document.write( "    * **Skill Mix:** Consider the overall skillset and balance of the team.\r<BR>\n" );
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document.write( "**5. Example Combination (Illustrative)**\r<BR>\n" );
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document.write( "* **Option:**<BR>\n" );
document.write( "    * 3 Delivery Drivers: Hiring Cost (3 * $12,000) = $36,000<BR>\n" );
document.write( "    * 3 Sr. Operations Admins: Hiring Cost (3 * $11,000) = $33,000<BR>\n" );
document.write( "    * 2 Daily Operations (Low-Cost): Hiring Cost (2 * $3,500) = $7,000<BR>\n" );
document.write( "    * **Total Hiring Cost:** $76,000 (Exceeds Budget)\r<BR>\n" );
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document.write( "* **Adjustment:**<BR>\n" );
document.write( "    * Reduce the number of Delivery Drivers to 2.<BR>\n" );
document.write( "    * **Revised Option:**<BR>\n" );
document.write( "        * 2 Delivery Drivers: Hiring Cost (2 * $12,000) = $24,000<BR>\n" );
document.write( "        * 4 Sr. Operations Admins: Hiring Cost (4 * $11,000) = $44,000<BR>\n" );
document.write( "        * 2 Daily Operations (Low-Cost): Hiring Cost (2 * $3,500) = $7,000<BR>\n" );
document.write( "        * **Total Hiring Cost:** $75,000 (Slightly Exceeds Budget)\r<BR>\n" );
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document.write( "**6. Further Analysis**\r<BR>\n" );
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document.write( "* **Refine the Combination:** <BR>\n" );
document.write( "    * Explore variations within the budget constraints (e.g., 1 Delivery Driver, 5 Sr. Operations Admins, 2 Daily Operations).<BR>\n" );
document.write( "    * Consider the potential profit range for each combination.<BR>\n" );
document.write( "    * Account for potential employee turnover and replacement costs.\r<BR>\n" );
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document.write( "**7. Decision-Making**\r<BR>\n" );
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document.write( "* Based on the analysis, select the employee combination that maximizes expected profit while staying within the budget.\r<BR>\n" );
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document.write( "**Important Notes:**\r<BR>\n" );
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document.write( "* This is a simplified analysis. <BR>\n" );
document.write( "* Factors like employee experience, training costs, and potential for future growth should also be considered.<BR>\n" );
document.write( "* A more detailed financial model and sensitivity analysis would be beneficial for a more robust decision.\r<BR>\n" );
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document.write( "**Disclaimer:** This information is for illustrative purposes only and does not constitute financial or business advice. \r<BR>\n" );
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document.write( "I hope this framework helps you approach this hiring decision!<BR>\n" );
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