Minimize the total cost of waiting line system

Assignment Help Business Management
Reference no: EM133036178

An average of 40 customers per hour arrives at a bank branch office (Poisson arrival) and wait in a single line to be served by the first available teller. The average time for each teller to service a customer is 4 minutes (exponentially distributed). Each teller earns $160/day and the bank branch office assesses a waiting cost of $50/day that a customer waits in the system.

How many tellers should be on duty in this bank branch office to minimize the total cost of this waiting line system?

Reference no: EM133036178

Questions Cloud

Explain the two isolating mechanisms : What are two isolating mechanisms that allow firms to secure values from their resources/capabilities? How do each of these mechanisms function?
What was the final selling price of the golf clubs : In February, a retail shop purchased golf clubs for $464 per set. The original markup was 37% based on cost. What was the final selling price of the golf clubs
What is the sampling frame in the study proposed : Problem: The Denver Police Department wants to know if Hispanic residents of Denver believe that the police use racial profiling when making traffic stops.
What would your account be worth : Question - If you deposit ?$3,500 today into an account earning an annual rate of return of 11 ?percent, what would your account be worth in 35 ?years
Minimize the total cost of waiting line system : How many tellers should be on duty in this bank branch office to minimize the total cost of this waiting line system?
Financial statements and industry standard ratios : The financial statements and industry standard ratios are listed below for a hypothetical firm. Complete the blue section.
What is the weighted-average number of shares outstanding : December 1: Reissued 5,000 shares of treasury stock. September 1: Issued a 10-for-1 stock split. What is the weighted-average number of shares outstanding
Two-factor model of motivation : Using Hertzberg Two-Factor Model of Motivation (as noted in the required course reading by Lussier, R., Achua, C. (2015). Leadership: Theory, Application, & Ski
Organizational behavior case study : Kanan is excited about his new job. He has heard that his new leader, Ann, is inspiring, visionary and forms strong relationships with her team.

Reviews

Write a Review

Business Management Questions & Answers

  Who is the target audience when a law is written

Who is the target audience when a law is written (average citizen, legislator, lawyer, courts)?

  Would you describe the culture at jpl as strong

Would you describe the culture at JPL as strong? Why or why not?

  Cross-cultural realities at work

Cross-Cultural Realities at Work

  Current price of the product

If the elasticity of demand for a product is estimated to be about 0.4 at around the current price of the product, would you characterize the elasticity

  Can you think of legitimate justification for organization

Search the library and the Internet for information pertaining to the ethical violation made by your organization. Can you think of any legitimate justification for the organization's actions with 2 examples? Explain.

  Short-term and renew the loan or borrow long-term

He looks at the US Treasury yield curve and it is upward-sloping. Would it make sense for him to borrow short-term and renew the loan or borrow long-term?

  Embedding long-term wealth creation

The author of the article "Embedding Long-Term Wealth Creation in the Heart of the Enterprise" describes the notion of recognizing

  Different alarm systems

For safety reasons, 5 different alarm systems were installed in the vault containing the safety deposit boxes at a Beverly Hills bank. Each of the 5 systems

  Role of regulation in our society and economy

The role of regulation in our society and economy is often debated. To some, regulations are unnecessary governmental interference and a drag on business succes

  How sustainable is this source of advantage

Throughout this course, you will conduct a strategy audit for a selected company. Begin this assignment by selecting an organization for your course project activities.

  What are the implications for organizational change

What other areas of organizational behavior or design are impacted by information technology, and what are the implications for organizational change?

  What is the main outcome of stakeholder analysis

What is the main outcome of stakeholder analysis? How does it help companies to gain strategic advantage?

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