Use the following information to answer questions 24-30 that follow.

-Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.
A) 10
B) 11
C) 12
D) 13

Question

Use the following information to answer questions 24-30 that follow.

-Using your equation from question 29, what is the expected demand for Ph.D. students if you have $200,000 available in HR costs? Round to nearest whole number.
A) 10 
B) 11 
C) 12 
D) 13

Quizplus · Accepted Answer

From the data provided, we can see that the demand for Ph.D. students is negatively correlated with the hourly wage rate. Using the equation from question 29, we can calculate the expected demand for Ph.D. students as:
Expected demand = 200 - 0.5 (200) = 100
Therefore, if we have $200,000 available in HR costs, we can hire 100/10 = 10 Ph.D. students. The closest option to this value is C, which is 12. Therefore, the best choice is C.

Use the Following Information to Answer Questions 24-30 That Follow