A small bank is trying to determine how many tellers toemploy. The total cost of employing a teller is $100 perday, and a teller can serve an average of 60 customersper day. On average, 50 customers arrive per day at thebank, and both service times and interarrival times areexponentially distributed. If the delay cost per customerday is $100, how many tellers should the bank hire?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
A small bank is trying to determine how many tellers to
employ. The total cost of employing a teller is $100 per
day, and a teller can serve an average of 60 customers
per day. On average, 50 customers arrive per day at the
bank, and both service times and interarrival times are
exponentially distributed. If the delay cost per customer
day is $100, how many tellers should the bank hire?
Service rate is the rate at which customers are being served in an organisation.
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