The Small Bank is located in rural Alberta and serves a local community. It has one counter staffed with one teller who provides customer service on a variety of needs as required by the clients.

Required:

a) The counter is open for five hours (300 minutes) each day (the operational capacity) and it takes six minutes to serve a customer. The bank expects to receive 42 customers each day. Calculate how long, on average, a customer will wait in line before being served.
b) The Bank is thinking of offering additional services to its customers. If it introduces the new service, the bank expects to serve an average of 60 customers each day instead of the 42 customers it currently averages. It will take 4.5 minutes to serve each customer regardless of whether the new services are offered. Calculate how long, on average, a customer will wait in line now before being served.

c) The Bank would like to introduce a policy where the average waiting time in line for a customer should not exceed five minutes. The bank cannot reduce the time to serve a customer below 4.5 minutes without significantly affecting quality. How long should the counter stay open in minutes for the bank to fulfill this policy for the 60 customers served each day?

d) The bank expects to generate, on average, $36 in additional revenue each day as a result of offering the new services. The teller is paid $12 per hour and is employed in increments of an hour. If the bank wants the average waiting time to be no more than 5 minutes, should the bank offer the new services?