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For Billys bank situation in problems 12.4 and 12.5, the salary and benefits for the teller would be 12 dollars per hour. The bank is open 8 hours each day. It has been estimated that the wait time cost is 25$ per hour in line. How many Customers would enter the bank on a typical day? How much total time would the customers spend waiting in line during the entire day if two tellers were used? What is the total Daily waiting cost? How much total time would customers spend waiting in line during the entire day if two tellers were used? What is the total daily waiting cost? If billy wishes to minimize the total waiting time and personal cost how many tellers should be used?

For Billys bank situation in problems 12.4 and 12.5, the salary and benefits for the teller would be 12 dollars per hour. The bank is open 8 hours each day. It has been estimated that the wait time cost is 25$ per hour in line. How many Customers would enter the bank on a typical day? How much total time would the customers spend waiting in line during the entire day if two tellers were used? What is the total Daily waiting cost? How much total time would customers spend waiting in line during the entire day if two tellers were used? What is the total daily waiting cost? If billy wishes to minimize the total waiting time and personal cost how many tellers should be used?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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For Billys bank situation in problems 12.4 and 12.5, the salary and benefits for the teller would be 12 dollars per hour. The bank is open 8 hours each day. It has been estimated that the wait time cost is 25$ per hour in line.

How many Customers would enter the bank on a typical day?

How much total time would the customers spend waiting in line during the entire day if two tellers were used? What is the total Daily waiting cost?

How much total time would customers spend waiting in line during the entire day if two tellers were used? What is the total daily waiting cost?

If billy wishes to minimize the total waiting time and personal cost how many tellers should be used?

Billy's Bank is the only bank in a small town in Arkansas. On a typical Friday, an average of 10 customers per hour arrives at the bank to transact business. There is one single teller at the bank, and the average time required to transact business is 4 minutes. It is assumed that service times can be described by the exponential distribution. Although this is the only bank in town, some people in the town have begun using the bank in a neighboring town about 20 miles away. If a single teller at Billy's is used, find
Transcribed Image Text:Billy's Bank is the only bank in a small town in Arkansas. On a typical Friday, an average of 10 customers per hour arrives at the bank to transact business. There is one single teller at the bank, and the average time required to transact business is 4 minutes. It is assumed that service times can be described by the exponential distribution. Although this is the only bank in town, some people in the town have begun using the bank in a neighboring town about 20 miles away. If a single teller at Billy's is used, find
Refer to the Billy's Bank situation in Problem 12-24. Billy is considering adding a second teller (who would work at the same rate as the first) to reduce the waiting time for customers, and he assumes that this will cut the waiting time in half. A single line would be used, and the customer at the front of the line would go to the first available bank teller. If a second teller is added, find
Transcribed Image Text:Refer to the Billy's Bank situation in Problem 12-24. Billy is considering adding a second teller (who would work at the same rate as the first) to reduce the waiting time for customers, and he assumes that this will cut the waiting time in half. A single line would be used, and the customer at the front of the line would go to the first available bank teller. If a second teller is added, find
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