Show complete solution about this queuing problem. Answers are provided. Just solution how to get it. Answers:Cost per min= $15.60Number of Tellers34Average TimeCustomer Waits (min)Waiting Costs1513108.18721622.41248998.4624Service Costs55.5111166.5222277.5Total Expected CostsCost per Teller= $5.501927.51733.41414.51220.4901.5Average # of Customers = 8What is the best decision alternative? Cost per min= $15.60Cost per Teller= $5.50Average # of Customers = 8Number of Tellers1.2.4Average TimeCustomer Waits (min)1513108Waiting CostsService CostsTotal Expected CostsWhat is the best decision alternative?

Here in this question, we are required to choose best alternatives. When management needs to select…

Cost per min= $15.60 Cost per Teller= $55.50 Average # of Customers = 8 Number of Tellers 2 3 4 5 Average Time Customer Waits (min) Waiting Costs Service Costs Total Expected Costs 15 13 10 8. 5 What is the best decision alternative?

Cost per min= $15.60 Cost per Teller= $55.50 Average # of Customers = 8 Number of Tellers 2 3 4 5 Average Time Customer Waits (min) Waiting Costs Service Costs Total Expected Costs 15 13 10 8. 5 What is the best decision alternative?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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Show complete solution about this queuing problem. Answers are provided. Just solution how to get it.

Answers:
Cost per min= $15.60
Number of Tellers
3
4
Average Time
Customer Waits (min)
Waiting Costs
15
13
10
8.
1872
1622.4
1248
998.4
624
Service Costs
55.5
111
166.5
222
277.5
Total Expected Costs
Cost per Teller= $5.50
1927.5
1733.4
1414.5
1220.4
901.5
Average # of Customers = 8
What is the best decision alternative?

Cost per min= $15.60
Cost per Teller= $5.50
Average # of Customers = 8
Number of Tellers
1.
2.
4
Average Time
Customer Waits (min)
15
13
10
8
Waiting Costs
Service Costs
Total Expected Costs
What is the best decision alternative?

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