Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

T 17.6-12. The Security & Trust Bank employs 4 tellers to serve its customers. Customers arrive according to a Poisson process at a mean rate

image text in transcribed
T 17.6-12. The Security & Trust Bank employs 4 tellers to serve its customers. Customers arrive according to a Poisson process at a mean rate of 2 per minute. However, business is growing and management projects that the mean arrival rate will be 3 per minute a year from now. The transaction time between the teller and cus- tomer has an exponential distribution with a mean of 1 minute. Management has established the following guidelines for a sat- isfactory level of service to customers. The average number of cus- tomers waiting in line to begin service should not exceed 1. At least 95 percent of the time, the number of customers waiting in line should not exceed 5. For at least 95 percent of the customers, the time spent in line waiting to begin service should not exceed 5 minutes. (a) Use the MIM/s model to determine how well these guidelines are currently being satisfied. (b) Evaluate how well the guidelines will be satisfied a year from now if no change is made in the number of tellers. (c) Determine how many tellers will be needed a year from now to completely satisfy these guidelines

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_2

Step: 3

blur-text-image_3

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

Fundamentals Of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

16th Edition

0357517571, 978-0357517574

More Books

Students also viewed these Finance questions

Question

What are the potential limitations of group discussion?

Answered: 1 week ago