Question

Consider the data for the four months shown below.

March April May June
Units produced 1,265 1,210 1,282 1,272
Labor hours 330 316 315 314
Calculate the monthly labor productivities. Do not round intermediate calculations. Round your answers to three decimal places.
Month Productivity
March unuts/hour
April unuts/hour
May unuts/hour
June unuts/hour
Calculate the monthly productivity growths. Do not round intermediate calculations. Round your answers to two decimal places. Use a minus sign to enter a negative value, if any.
Months Productivity growth
March-April %
April-May %
May-June %

Answer 1

The monthly labor productivities and growths are as follows:

| Month | Productivity (units/hour) | Productivity Growth (%) |

|-----------|------------------------------------|------------------------------------|

| March | 3.833 | -0.001 |

| April | 3.829 | 0.06 |

| May | 4.07 | -0.02 |

| June | 4.05 | |

How did we get the values?

To calculate monthly labor productivity, you can use the formula:

`\[ \text{Productivity} = \frac{\text{Units Produced}}{\text{Labor Hours}} \]`

To calculate the productivity growth for each month using the formula:

`\[ \text{Productivity Growth} = \frac{(\text{New Productivity} - \text{Old Productivity})}{\text{Old Productivity}} * 100 \]`

Now, let's plug in the values and calculate:

`\[ \text{March Productivity} = (1,265)/(330) \approx 3.833 \, \text{units/hour} \]`

`\[ \text{April Productivity} = (1,210)/(316) \approx 3.829 \, \text{units/hour} \]`

`\[ \text{May Productivity} = (1,282)/(315) \approx 4.0698 \, \text{units/hour} \]`

`\[ \text{June Productivity} = (1,272)/(314) \approx 4.051 \, \text{units/hour} \]`

`\[ \text{March-April Growth} = ((3.829 - 3.833))/(3.833) * 100 \approx -0.001\% \]`

`\[ \text{April-May Growth} = ((4.0698 - 3.829))/(3.829) * 100 \approx 0.0628\% \]`

`\[ \text{May-June Growth} = ((4.051 - 4.0698))/(4.07) * 100 \approx -0.0188\% \]`

So, the monthly labor productivities and growths are as follows:

| Month | Productivity (units/hour) | Productivity Growth (%) |

|-----------|------------------------------------|------------------------------------|

| March | 3.833 | -0.001 |

| April | 3.829 | 0.06 |

| May | 4.07 | -0.02 |

| June | 4.05 | |