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Chapter 1: Q210Q (page 39)

Question: A retail store had sales of \(45,000 in April and \)56,000 in May. The store employs eight full-time workers who work a 40-hour week. In April the store also had seven part-time workers at 10 hours per week, and in May, the store had nine part-timers at 15 hours per week (assume four weeks in each month). Using sales dollars as the measure of output, what is the percentage change in productivity from April to May?

Short Answer

Expert verified

Answer

The percentage change in productivity from April to March is 6.65 per cent

Step by step solution

01

Calculating productivity of April

Productivity=Output鈥�in鈥�dollarsInput鈥�in鈥�hours=450008脳40+7脳10脳4=450001560=28.85鈥�dollars鈥�per鈥�hour

02

Calculating productivity of May

dProductivity=Output鈥�in鈥�dollarsInput鈥�in鈥�hours=56008脳40+9脳15脳4=56001820=30.77鈥�dollars鈥�per鈥�hour

03

Calculating percentage change

Percentage鈥�change=Difference鈥�of鈥�valuesInitial鈥�value脳100=30.77-28.8528.85脳100=1.9228.85脳100=0.0665脳100=6.65鈥�%

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