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3. A contractor was in the business of building storage tanks. The learning rate was 0.80 on doubled averages. He broke
Posted: Wed May 04, 2022 9:20 am
by answerhappygod
- 3 A Contractor Was In The Business Of Building Storage Tanks The Learning Rate Was 0 80 On Doubled Averages He Broke 1 (43.64 KiB) Viewed 26 times
3. A contractor was in the business of building storage tanks. The learning rate was 0.80 on doubled averages. He broke even on the twelfth unit, which brought the average of all the units to 1,500 hours per unit with a labor cost of $18,000 per unit. What was his profit margin on a contract for 30 such units? Assume that this was the first contract and that he was paid the same price per storage tank. Give the profit margin in dollars and in percent.