Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. (12 pts total) A tour company must plan the size of a new waiting area - to be defined as both the number of

image text in transcribed
3. (12 pts total) A tour company must plan the size of a new waiting area - to be defined as both the number of chairs and the square footage required. Groups of customers arrive to a waiting area at a rate of 18 groups every 30 minutes following a Poisson distribution. 50% of groups that arrive are a single customer and 50% of groups that arrive are a group of 2 customers. Every 30 minutes, an attendant takes all customers that are waiting to the tour. For every customer that has arrived, there must be 1 chair, and a total of 16 square feet of waiting room space. a. (8 pts) Compute the best estimate for the size of the new waiting area using the mean of each distribution in your calculation. b. (4 pts) The owner says it is not acceptable to have fewer chairs than customers waiting ever. If you were to use Crystal Ball to do a Monte Carlo simulation of this problem, how would you use the output from Crystal Ball to make a recommendation on the size of the waiting area (i.e. What statistics would you use to support your recommendation)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Strategic Management Theory And Practice

Authors: John A. Parnell

4th Edition

1452234981, 9781452234984

More Books

Students also viewed these General Management questions