Take Test: Quiz 4- Requires Respondus LockDown Browser This test has a time limi
ID: 1107125 • Letter: T
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Take Test: Quiz 4- Requires Respondus LockDown Browser This test has a time limit of 40 minutes.You will be noeifled when time expires, and you may continue or submit Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remairn. Multiple Attempes This test allows multiple actempes Farce Completion This test can be saved and resumed later. The timer will continue to run if you leave the test. Time: 39 v Question Completion Status Moving to the next question prevents changes to this answer. Question 1 of 10 New York is considering of starting a new one-year Master's program in Mechanical Engineering They plan to use their existing facilities but hire 3 new teachers, whose salary would be around 50,000 Dh per student What is the minimum number of students required to break even? Dh per yoar for cach. They expect their operating and maintenance expenses will increase by 15,000 Dh for every new student. Finally, they would set the tuition fees at MacBook ProExplanation / Answer
Ans. As New York is considering setting one year master’s program in mechanical engineering.
They hire 3 new teachers, with salaries $ 4,00,000 per year each.
Total salary of these 3 teachers = $ 12,00,000/year.
Maintenance and operational expense will increase by $ 15000 for each new student admitted.
Tution fees per students is = $ 50,000.
So the break even conditions will be when
New York will admit 35 students for their program.
Tution fees from 35 students = 35*50000 = $ 17,50,000.
Total cost from 35 students = 35*15000 = $ 5,25,000
Total cost = $ 12 lac + $ 5.25 lac = $ 17.25 lac.
Revenues = 17.5 lac dollar.
So, the minimum number required for breakeven is 35.
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