W. L. Brown, a direct marketer of womens clothing, must determine how many telephone operators to schedule

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W. L. Brown, a direct marketer of women’s clothing, must determine how many telephone operators to schedule during each part of the day. W. L. Brown estimates that the number of phone calls received each hour of a typical eight-hour shift can be described by the probability distribution in the file S15_33.xlsx.
Each operator can handle 15 calls per hour and costs the company $20 per hour. Each phone call that is not handled is assumed to cost the company $6 in lost profit. Considering the options of employing 6, 8, 10, 12, 14, or 16 operators, use simulation to determine the number of operators that minimizes the expected hourly cost (labor costs plus lost profits).

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Data Analysis And Decision Making

ISBN: 415

4th Edition

Authors: Christian Albright, Wayne Winston, Christopher Zappe

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