Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ent/Assignment-Responses/submit?dep=33382244&tags=autosave #question5223788_4 D Finish update A large insurance company maintains a central computing system that contains a variety of information about customer accounts. Insurance

image text in transcribed

ent/Assignment-Responses/submit?dep=33382244&tags=autosave #question5223788_4 D Finish update A large insurance company maintains a central computing system that contains a variety of information about customer accounts. Insurance agents in a six-state area use telephone lines to access the customer information database. Currently, the company's central computer system allows three users to access the central computer simultaneously. Agents who attempt to use the system when it is full are denied access; no waiting is allowed. Management realizes that with its expanding business, more requests will be made to the central information system. Being denied access to the system is inefficient as well as annoying for agents. Access requests follow a Poisson probability distribution, with a mean of 40 calls per hour. The service rate per line is 24 calls per hour. (a) What is the probability that 0, 1, 2, and 3 access lines will be in use? (Round your answers to four decimal places.). P(O) P(1) P(2) - X P(3) = X See the rounding prompt for how many decimal places are needed. (b) What is the probability that an agent will be denied access to the system? (Round your answers to four decimal places.) Pk = (c) X What is the average number of access lines in use? (Round your answers to two decimal places.) 51 calls per hour. In addition, the probability that an agent will be denied (d) In planning for the future, management wants to be able to handle access to the system should be no greater than the value computed in part (b). How many access lines should this system have? = 8:58 PM

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

Financial Markets and Institutions

Authors: Anthony Saunders, Marcia Cornett

6th edition

9780077641849, 77861663, 77641841, 978-0077861667

More Books

Students also viewed these Finance questions