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Magnus Packard at Capital State Financial Four questions. Magnus Packard is an underwriter who works at Capital State Financial where he processes loans daily. He usually takes an average of 40 minutes to process each loan or job and can identify how long each one will take based on a few key indicators within the application. Today, he has five loans that he must process by the end of the day. Each job is labeled in alphabetical order based on the order in which it arrived. For example, A arrived first, and 8 came in second, etc. (See table below) Q1. Magnus' colleague suggests that he work through each job in a first-comefirst-served (FCFS) sequence. Why would this not be the best method to use in this situation? Q2. Let's say, Magnus' office requires underwriters to follow the shortestprocessing-time (SPT) rule. In what order will Magnus complete the jobs with SPT? A) A,B,C,D,E,F B) E,D,F,B,A,C C) C,D,E on Day 1 and A,B,F on Day 2 D) D, E, F on Day 1 and A,B,C on Day 2 E) C,A,B,F,D,E Q3. Let's say Magnus decided not to waste a minute of her day and immediately starts the jobs according to the FCFS rule. What would the average flow time be after these five jobs? Q4. Before starting his work, Magnus decides to take a moment to calculate average flow times. After he learns that the average flow time under FCFS is 152 minutes, he predicts that the SPT rule must yield a shorter average flow time. Is he correct? Why