Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Many of a bank's customers use its automatic teller machine to transact business after normal banking hours, During the eatly evening hours in the summer

image text in transcribed
image text in transcribed
Many of a bank's customers use its automatic teller machine to transact business after normal banking hours, During the eatly evening hours in the summer months, customers arrive at a certain location at the rate of one every other minute This can be modeled using a Poisson distribution. Each customer spends an average of 89 seconds completing his or her transactions. Transaction time is exponentially distributed. Q. Determine the average time customers spend at the machine, including waiting in line and completing transactions: (Do not round intermediate calculations. Round your answer to the nearest whole number.) b. Determine the probability that a customer will not have to wait upon arning at the automatic teller machine. (Round your onswer to 2 decimal places.) Answer is complete and correct. c. Determine the average number of customers waiting to use the machine. (Round your answer to 2 decimal ploces.) Answer is complete but not entirely correct

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

Essentials of Management

Authors: Andrew J. DuBrin

9th Edition

538478233, 2900538478235, 978-0538478236

More Books

Students also viewed these General Management questions

Question

What is safety monitoring in an automated system?

Answered: 1 week ago

Question

What benefit/pay-off is there in the present situation?

Answered: 1 week ago

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago