1. This question will get you to utilize CS-JFB-LC07 Examples.xlsx to examine two dif- ferent option for a firm. Regardless of the option selected, the arrival time will be = 60 or essentially 1 customer arriving every minute. The cost of waiting is given as $10.00 per hour. The firm could either hire 2 more experienced workers (at a cost of $25.00 per hour) or 4 less experienced ones (at half the cost, i.e. $12.50). The experienced workers can service a customer in 1.5 minutes whereas an inexperienced worker need 3 minutes per customer. Thus the experienced workers are paid twice as much as they are twice as efficient as the inexperienced workers. Also as a reminder: 1/ is how long a worker takes per customer. (a) What is the utilization in each case? Can you think of an intuitive reason for this to be true? (b) Which choice would you recommend and why? How can this be true given part (a) (Hint: Look at L, Lq, W, and Wq)? 2. This question will get you to utilize CS-JFB-LC09 Santronics.xlsx to examine what happens under a worse case scenario versus a best case scenario. (a) In the worst case scenario, suppose the the demand follows a normal distribution with = 14, 000 and = 5, 000 and the parts cost is distributed uniformly over [90,110]. How does this influence the outcome (in general, as pseudo-random numbers... there will not be an exact answer)? Does it increase or decrease the probability of a loss? (b) In the worst case scenario, suppose the demand follows a normal distribution with = 16,000 and = 4,000 and the parts cost is distributed uniformly over [70, 90]. How does this influence the outcome (in general, as pseudo-random numbers... there will not be an exact answer)? Does it increase or decrease the probability of a loss?