Math Problem Statement
Solution
Let's break this down and solve the problem step by step.
Given Information:
- The relationship between revenue (in thousands of USD) and the number of employees (in hundreds) is given by:
- The company currently has 3000 employees, which means (since is the number of employees in hundreds).
- The current revenue is $2,700,000, which means (since is in thousands).
- The target revenue is $4,860,000, which means .
We need to find how many new employees should be hired, i.e., find the new value of .
Step 1: Solve for at the current revenue.
From the equation: Substitute and solve for : This confirms that with 3000 employees (i.e., ), the revenue is indeed $2,700,000.
Step 2: Solve for at the target revenue.
Now, substitute and solve for :
Step 3: Determine how many employees to hire.
The company needs , which corresponds to approximately 4459 employees. Currently, they have 3000 employees, so the number of new employees to hire is:
Thus, the company should hire 1459 new employees to reach their target revenue.
Would you like further clarification or a deeper breakdown of any step?
Here are five related questions for further practice:
- What if the target revenue was $6,000,000? How many new employees would be needed?
- If the revenue-to-employees relationship changes to , how does this affect the number of employees needed for the same revenue?
- How many employees would the company need if they wanted to double their current revenue?
- What would the revenue be if the company hired an additional 2000 employees?
- How would the equation change if the revenue grows at a rate proportional to instead of ?
Tip: When dealing with related rates or proportional growth problems, always check if the units are consistent to avoid errors in calculations.
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Math Problem Analysis
Mathematical Concepts
Related Rates
Cubic Functions
Algebra
Formulas
R^2 = 270x^3
Revenue in thousands (R)
Employees in hundreds (x)
Theorems
-
Suitable Grade Level
Grade 11-12
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