An enterprising student has set up an internship clearinghouse for business students. Each student who uses the service fills out a form and lists up to 10 companies that he or she would like to have contacted. The clearinghouse has a choice of two methods to use for processing the forms. The traditional method requires about 20 minutes to review the form and arrange the information in the proper order for processing. Once this setup is done, it takes only two minutes per company requested to complete the processing. The other alternative uses an optical scan/retrieve system, which takes only a minute to prepare but requires five minutes per company for completing the processing. If it costs about the same amount per minute for processing with either of the two methods, when should each be used?

If it costs about the same amount per minute for processing with either of the two methods,

The traditional method should be used when there is enough time since it requires 20 minutes to process the information for 10 companies.

The other alternative uses an optical scan/retrieve system should be used in emergencies since it takes just one minute to prepare.

Explanation:

Based on the variables provided, The traditional method involves less time in total because it took longer for the alternative method to complete the processing

The traditional method duration is summarized as follows

20 minutes to review the form and arrange the information in the proper order for processing.

2 minutes per company to complete the processing (2 x 20)

bringing the total duration for review and processing to 40 minutes.

The alternative method which uses an optical scan/retrieve system, which takes only

1 minute to prepare

5  minutes per company for completing the processing (5 x 10)

bringing the total duration to 51 minutes.

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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