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A bank is trying to determine which of two machines should be rented to process checks. Machine 1 rents for $10,000 per year and processes 1,000 checks per hour. Machine 2 rents for $15,000 per year and processes 1,600 checks per hour. Assume that the machines work 8 hours a day, 5 days a week, 50 weeks a year. The bank must process an average of 800 checks per hour, and the average check processed is for $100. Assume an annual interest rate of 20%. Then determine the cost to the bank (in lost interest) for each hour that a check spends waiting for and undergoing processing. Assuming that interarrival times and service times are exponential, which machine should the bank rent?
Assuming which no ships are in harbour at time 0,run simulation for 90 days also compute minimum, maximum, also average time which ships are in harbour (which includes their time in berth). Also estimate expected utilization of each berth also of ..
A regression model that predicts sales is given as: Sales = 100 - 6*(Price). Which of the following can be said based on this model? In developing a multiplicative seasonality forecasting model, which of the following gives the required steps in the ..
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A firm produces handbags using three workers. On Tuesday, Jane completed 60 bags in 6 hours, Ron completed 50 bags in 7 hours, and Mary completed 80 bags in 5 hours.
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