ieor project page 8

ieor project page 8 - Obviously the programs that offer the...

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pay more money to enroll lower-level employees (such as technicians and salesmen) in programs than to enroll some of your senior staff. Because these programs appear to be overpriced and are used a lot, the company offering these programs should give some sort of discount and the price of these should indeed be negotiated. So why don’t we just reassign some of these employees to cheaper programs? A few of these “more expensive” programs tend to offer skills that most other programs do not offer and hence, they are the employees’ only options. When a program offers skills that many other programs do as well and is still expensive, then it could potentially be classified as overpriced. However, programs that offer unique and necessary skills may be overpriced, but nonnegotiable. You may also wonder as to which skills, on average, are needed the most by the company. If we take this into consideration, we can see which skills are the most useful and based on that, which programs are the most useful.
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Unformatted text preview: Obviously, the programs that offer the “best” skills are the most useful. However, programs that don’t offer this subset of great skills and yet are still expensive could be classified as overpriced. We attempted to model this based on the data you provided us. However it turned out that while some programs may be classified as overpriced, it may be infeasible in the short run to have an optimal training solution without these programs. Also, two of the most demanded skills were “smoking cessation” and “performance appraisals," leading us to believe that a program without these skills could potentially be overpriced. There is a fallacy with this logic, as overall, these two skills should be relatively simpler to teach and require less training and therefore, should not be very expensive. Meanwhile, a program that contains a skill like “computer programming”...
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