ANSWER THE QUESTIONS USING THIS EXCEL TEMPLATE

Sally Gordon has just completed her MBA degree and is proud to have earned a promotion to Vice President for Customer Services at the First Bank of Seattle. One of her responsibilities is to manage how tellers provide services to customers, so she is taking a hard look at this area of the bank's operations. Customers needing teller service arrive randomly at a mean rate of 30 per hour. Customers wait in a single line and are served by the next available teller when they reach the front of the line. Each service takes a variable amount of time (assume an exponential distribution), but on average can be completed in 3 minutes. The tellers earn an average wage of $18 per hour. A. (30%). If two tellers are used, what will be the average waiting time for a customer before reaching a teller? On average, how many customers will be in the bank, including those currently being served? B. (30%). Sally feels that a significant cost is incurred by making a customer wait because of potential lost future business. Sally estimates the cost to be $0.50 for each minute a customer spends in the bank, counting both waiting time and service time. Given this cost, how many tellers should Sally employ? La S = A B D E F G 1 Template for M/M/s Finite Calling Population Model 2. 3 Data Results 4 1.-0.111111 exponential parameter) L = 0.55280899 5 0.5 (mean service rate) La = 0.00898876 6 2 (# servers) 7 N = 3 (size of population) W = 2.033057851 8 W = 0.03305785 9 10 p=0.33333333 11 0.6 2-bar = 0.27191011 12 0.5 13 0.4 n PA 0 0.54606742) 15 0.3 1 0.36404494 16 0.2 2 0.08089888 17 3 0.00898876 18 0.1 4 19 0 5 20 0 2 4 6 8 10 12 14 16 18 20 22 24 6 21 7 22 Number of Customers in System 8 23 24 10 25 11 26 12 27 13 28 14 29 Probability 0 0 0 & SN 180 COWN WN TOOO YOUNWN O O O O O O O O OOOOO 151