Assignment: Economics Calculations & Graphs
a. Suppose customer satisfaction depends on the number of customer service representatives I hire. After careful data collection, I estimate the particular relationship to be:
CS = 70 + 4R - .2R2.
Where CS = a customer satisfaction score on a scale of 0-100, and R is the number of customer service representatives I hire. Suppose I am interested ONLY in maximizing my customer satisfaction score by choosing a number of customer service representatives.
i. Graph this function and define and describe (in economic terms!) the intercept and slope.
ii. What level of R would maximize CS? What is the maximum CS score achieved? Show all your work and explain the economics behind the steps!
iii. What could the firm do to increase the intercept from 70 to 80? Explain fully.
b. Describe a real-world relationship between two variables that you believe is linear. Justify your example. Now instead provide a real-world example of two variables that are not related linearly. Again, explain your reasoning.
Graphs are essential write them clearly and label everything
Format your assignment according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.