Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I want a solution not in Excel The Garrett-Tompkins Company provides three copy machines in its copying room for the use of its employees. However,

image text in transcribed
I want a solution not in Excel
The Garrett-Tompkins Company provides three copy machines in its copying room for the use of its employees. However, due to recent complaints about considerable time being wasted waiting for a copier to become free, management is considering adding one or more additional copy machines. During the 2,000 working hours per year, employees arrive at the copying room according to a Poisson process at a mean rate of 30 per hour. The time each employee needs with a copy machine is believed to have an exponential distribution with a mean of 5 minutes. . The lost productivity due to an employee spending time in the copying room is estimated to cost the company an average of $25 per hour. Each copy machine is leased for $3,000 per year. Determine how many copy machines the company should have to minimize its expected total cost per hour

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

Structured Edp Auditing

Authors: Gabriel Rothberg

1st Edition

0534979319, 978-0534979317

More Books

Students also viewed these Accounting questions