Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

The manager of the Radford Credit Union(RCU) wants to determine how many part-time tellers to employ to cover the peak demand time in its lobby from 11:00 am to 2:00 pm. RCU currently has three full-time tellers that handle the demand during the rest of the day, but during this peak demand time, customers have been complaining that the wait time for service is too long.

The manager at RCU has determined that the customers arrive according to Poisson distribution with an average of 60 arrivals per hour during the peak period. Each teller services customers at a rate of 24 per hour, with service times following an exponential distribution.

a. On average, how long must customers wait in line before service begins?

b. Once service begins for a customer, how long does it take to complete the transaction, on average?

c. If one part-time teller is hired to work during the peak time period, what affect would this have on the average amount of time a customer spends waiting in the queue?

d. If one part time teller is hired to work during the peak time period, what effect would this have on the average amount of time it takes to serve a customer?

Attachment:- os4680 13-131.zip

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91624915
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

The monthly utility bills in a city are normally

The monthly utility bills in a city are normally distributed with a mean of $121 and a standard deviation of $23. Find the probability that a randomly selected utility bill is between $115 and $130. Probability of 0.07 a ...

A puck company wants to sponsor the players with the 10

A puck company wants to sponsor the players with the 10% quickest goals in hockey games. The times of first goals are normally distributed with a mean of 8.54 minutes and a standard deviation of 4.91 minutes. How fast wo ...

Find the mean and the standard deviation of a binomial

Find the mean and the standard deviation of a Binomial Distribution with n = 65 and p = 0.32 Mean = 24; Stand. Deviation= 4.1 Mean = 20.8; Stand. Deviation= 3.76 Mean = 28; Stand. Deviation= 3.66 Mean = 21.8; Stand. Devi ...

Name some marketing techniques and styles that you have

Name some marketing techniques and styles that you have encountered that demonstrate many of the strongpoints we learned in this course.

Consider projects a and b with the following cash

Consider projects A and B with the following cash flows: C0 C1 C2 C3 A -$29 $18 $18 B -$54 29 29 What is the profitability index of each project?  (Do not round intermediate calculations. Round your answers to 2 decimal ...

A mental health treatment center wanted to compare group

A mental health treatment center wanted to compare group therapy vs. individual therapy. They are interested in the relationship between treatment type (group, individual) and treatment completion (yes/no). What type of ...

We have a normal distribution with a mean of 71 and a

We have a normal distribution with a mean of 71 and a standard deviation of 11 What is the Z value of the value 62? Round to three decimal digits. show workings please

A single person with a monthly taxable income of 2800 in

A single person with a monthly taxable income of $2800 in the 15% federal marginal bracket, has a state tax rate of 7.95% and social security taxes at 6.2%. This person forgoes consumption and instead places $230 into a ...

Ralph and gina attend differed schools but each have a gpa

Ralph and Gina attend differed schools, but each have a GPA of 3.2 The GPA's at each score follow a normal distribution. Ralph's school has a mean GPA of 2.7 and a standard deviation of .25. Gina's school has a mean of 3 ...

1 choose all probability distributions which are

1. Choose all probability distributions which are theoretically related to normal probability distribution 2. The 68-95-99.7 rule states that in a normal distribution 3. For a normal distribution the a mean of 179 and st ...

  • 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