A small bank is trying to determine the number of tellers to employ. The total cost of employing a teller is $100 per day, and a teller can serve an average of 160 customers per day. On average, 210 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 $200, how many tellers should the bank hire?
A small bank is trying to determine the number of tellers to employ. The total cost of employing a teller is $100 per day, and a teller can serve an average of 160 customers per day. On average, 210 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 $200, how many tellers should the bank hire?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A small bank is trying to determine the number of tellers to employ. The total cost of employing a teller is $100 per day, and a teller can serve an average of 160 customers per day. On average, 210 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 $200, how many tellers should the bank hire?
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