1 - Specialized clerk vs. generalist clerk At a regional life insurance company, the deposit and withdrawal functions associated with a particular investment product are handled by two separate clerks, Alfie and Betty. The deposit slips arrive randomly on Alfie's desk according to a Poisson process with a rate of 16 slips per hour. Withdrawal slips, on the other hand, arrive randomly on Betty's desk according to a Poisson process with a rate of 14 slips per hour. The processing time, regardless of the type of transaction, has an exponential distribution with an average of 3 minutes. To reduce the average wait time for deposit slips and withdrawal slips, the company's actuarial department manager recommended training each employee to process both types of transactions and placing both types of slips in a single queue to which both employees have access. a) Determine the average wait time in the current system configuration for each type of slip, then combine these results to obtain the expected wait time for a random arrival of either type of slip. b) Determine the average inbound slip wait time assuming the recommended system configuration has been adopted. c) Now suppose that adopting the recommended system configuration would result in a slight increase in the average processing time without affecting the type of probability distribution. Use a trial-and-error approach to determine the average handle time that would cause the expected wait time for a random slip to arrive to be essentially the same under the current system configuration and the recommended one