Compute the operating characteristics of customer waiting

Assignment Help Finance Basics
Reference no: EM132348027

Agan interior design provides home and office decoration assistance to its customers. In normal operation, an average of 2.8 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.

A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.

Lq=?

L=?

Wq=? hours

W=? hours

Pw= ?

B. Service goals dictate that an arriving customer should not wait for service mare than an average of 7 minutes. Is this goal being met? If not, what action do you recommend?

a. yes, goal is met

b. no, firm should decrease the mean service rate for the consultant

c. No. firm should increase the mean service rate for the consultant or hire a second consultant.

Reference no: EM132348027

Questions Cloud

Calculate the p-value of the test : The significance level is set at a = 0.01. Calculate the p-value of the test.
Sample coefficients of variation for marketing expenditure : For this data, the sample coefficients of variation for marketing expenditure, number of rainy days per month, and number of sales have been calculated
Correct expression of the alternate hypothesis : Which of the following illustrates the correct expression of the alternate hypothesis that customers of McDonald's consume more than the national average
The instrument that gary developed is an example : Question: The instrument that Gary developed is an example of a(n) ________ assessment.
Compute the operating characteristics of customer waiting : Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times.
Identify the explanatory and response variables : Based on a four year (2004-2007) study of over 30,000 people who were 45 + years, where all individuals were followed up regularly for diet and health changes
Explain why this is a binomial experiment : According to an? airline, flights on a certain route are on time 85?% of the time. Suppose 17 flights are randomly selected and the number of? on-time flights
Importance for quadricept strength index : What do the r and p values indicate and what is their clinical importance for Quadricept strength index 120/s and Hop index.
Relationship between the hamstring strength index : Describe the direction of the relationship between the Hamstring strength index 60/s and the Shuttle run test.

Reviews

Write a Review

Finance Basics Questions & Answers

  The investment opportunity of a lifetime

Your broker calls to offer you the investment opportunity of a lifetime, the chance to invest in mortgage-backed securities. The broker explains that these securities are entitled to the principal and interest payments received from a pool of resi..

  For how many years will the money earn interest

If Aunt Tillie also wants to reward you with a graduation gift of cash and she deposits $1,000 in an account at the end of each year for the next four years, for how many years will the money earn interest.

  Calculate the value of the stock today calculate circp1 and

snyder computer chips inc. is experiencing a period of rapid growth. earnings and dividends are expected to grow at a

  What steps can the company take to diversify its portfolio

What steps can this company take to diversify its portfolio? Define diversification and its necessity in risk management.

  What is the coupon rate on the bond

Suppose today a 10 percent coupon bond sells at par.  Two years from now, the required return on the same bond is 8 percent.  What is the coupon rate on the bond then? the YTM?

  What additional information would you want

What additional information would you want? If funds cost 12%, what would be your advice to management? Would your answer be different if the cost of capital is 8%?

  Find the following journal entries in a standard cost

question 1. the difference between the total actual overhead cost incurred during a period and budgeted total factory

  Work breakdown structure-crm implementation

You are starting to create the project's WBS, focusing on the CRM implementation. , create a WBS for this part of the project, being sure to define the phases and the deliverables created in each phase.

  Shape of the sampling distribution of the sample mean

What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean?

  Fixed rate payment liability to manage interest rate risk

1. Borrowing costs of two companies, A and B, in the fixed rate and floating rate markets are given below. Company B is a project and has raised floating-rate funds. It is looking into swapping its floating payment liabilities for fixed rate payment ..

  Explain the underlying causes of derailment

Investigate the history of one of the following leaders and explain the underlying causes of derailment or incompetence using concepts we learned in Chapter 15.

  What are the limitations of operational definitions

Pick a hypothetical construct. Describe external stimuli that influence the construct and external behaviors that are influenced by the construct.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd