Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Please read the scenario and answer the  question basis on the scenario.

Scenario Three: On Friday's the Elm Street branch opens a second lane (window) during its 8 hours of operation in order to accommodate employees from a local manufacturing plant who want to deposit their paychecks. When a customer in the single line reaches the front of the line, it would go to the next available lane (window) for service. On Friday's customers arrive at the rate of about 14 every hour according to a Poisson distribution and, on average, each customer service person can process a transaction every 3 minutes, following an exponential distribution. The salary and benefits for a bank teller at the Elm Street branch is $18.50 per hour. If it has been estimated that the waiting time cost per hour is $62.00 per hour in line.

The table given below shows the workings of waiting times

Parameter

      Value

    Minutes

  Seconds

M/M/s

 

 

 

Arrival rate(lambda)

14

 

 

Service rate(mu)

20

 

 

Number of servers

2

 

 

Server cost $/time

18.5

 

 

Waiting cost $/time

62

 

 

Average server utilization

0.35

 

 

Average number in the queue(Lq)

0.1

 

 

Average number in the system(L)

0.8

 

 

Average time in the queue(Wq)

0.01

0.42

25.13

Average time in the system(W)

0.06

3.42

205.13

Cost (Labor + # waiting*wait cost)

43.06

 

 

Cost (Labor + # in system*wait cost)

86.46

 

 

The probability table is given below

       Prob (num in sys = k) 

   Prob (num in sys <= k) 

    Prob (num in sys >k) 

0

0.48

0.48

0.52

1

0.34

0.82

0.18

2

0.12

0.94

0.06

3

0.04

0.98

0.02

4

0.01

1

0.01

5

0.01

1

0

Question 1: What is the average number of customers in the system?

Question 2: What is the average number of customers in line “behind” the customer(s) receiving service?

Question 3: What is the average waiting time a customer spends in the system?

Question 4: What is the average time a customer is in the queue waiting to be serviced?

Question 5: What is the probability that there are no customers in line or being serviced?

Question 6: What percentage of the time are the customer service persons busy?

Question 7: How much total time would customers spend waiting in line to be serviced (queue) on a typical day?

Question 8: What is the total daily cost of customers waiting in line to be serviced (queue) on a typical day?

Question 9: What is the total daily cost of customers waiting in the system on a typical day?

Question 10 what is the total daily cost of customers waiting in the system plus the cost of service on a typical day?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91893355
  • Price:- $5

Priced at Now at $5, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

A student is to be selected randomly from a group of

A student is to be selected randomly from a group of students. For each classification of freshman and sophomore, there is a math major, an art major, and a biology major. The probability of each individual being selecte ...

A recent study reported that the prevalence of

A recent study reported that the prevalence of hyperlipidemia is 30% in children 2 to 6 years of age. If 12 children are analyzed what is the probability that at least 3 are hyperlipidemic?

You are leasing a car for 48 months you put down 2000 now

You are leasing a car for 48 months. You put down $2000 now and agree to $500 monthly payments. The residual value is $15,000. The financing rate is 8% (monthly compounded). How much is the car worth?

Thinking specifically about disney theme parks how does

Thinking specifically about Disney theme parks, how does Disney connect with the target market? What are some of the challenges associated with Disney theme parks? Use examples.

According to a field poll 79 of california adults actual

According to a Field Poll, 79% of California adults (actual results are 400 out of 506 surveyed) feel that "education and our schools" is one of the top issues facing California. We wish to construct a 90% confidence int ...

Confidence1the daily sales of burger baby restaurants

Confidence 1.The daily sales of Burger Baby restaurants follow the normal distribution with a standard deviation of $4000. a. A sample is taken of 50 restaurants and the average sales were $40,000/day. What is the 99% co ...

Rachel age 65 has begun establishing many different trusts

Rachel, age 65, has begun establishing many different trusts. Of the following beneficiaries listed in her trusts, who would be considered a skip person for purposes of the GSTT? I. Adam, age 25, her new husband II. Bart ...

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

The number of phone calls that arrive at a phone exchange

The number of phone calls that arrive at a phone exchange is often modeled as a Poisson random variable. Assume that on average there are 7 calls per hour. Show all work. a)  Find the probability that there are exactly f ...

The beta corp has decided to enter the next generation in

The BETA Corp. has decided to enter the next generation in customer service. In order to do so they need to purchase a new piece of equipment. The equipment is highly specialized and needs to be created to exact specific ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As