Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have been asked to analyze the queue for registrations for a popular Financial Seminar at a major national conference. Conference attendees arrive to register

You have been asked to analyze the queue for registrations for a popular Financial Seminar at a major national conference. Conference attendees arrive to register at the rate of 3 people every 12 minutes (Poisson distributed). It takes each host, any number of which can be hired directly through the conference at the cost of $15 per hour. It takes 6 minutes to register a guest, following a (negative exponential distribution). The conference recognizes a waiting cost of $55 per hour per guest in line. (The goal is to not have the attendees wait in line more than 6.5 minutes).

A single waiting line is set up, but can accommodate multiple servers.

a. Based on the goal stated above, what is the minimum number of hosts that could be hired for this system? [ Select ] ["4", "5", "1", "3", "2"] hosts

b. Based on wait cost, what is the optimal number of servers needed to minimize total costs? [ Select ] ["5", "1", "4", "2", "3"] hosts

c. Rounded to the nearest dollar, what is total per day (wait) cost at the optimal number of servers if the registration desk is open for 3 hours? [ Select ] ["$203.31", "$62.46", "$342.89", "$174.08", "$58.02"]

d. At the optimal number of servers, what is the average time to check in an attendee? [ Select ] ["6.94 minutes", ".55 of a minute", "1.11 minutes", "8.12 minutes", ".94 of a minute"]

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

Management

Authors: Stephen P Robbins, Mary Coulter

11th Edition

9780273752776, 132163845, 273752774, 978-0132163842

More Books

Students also viewed these General Management questions