The Friendly Neighbor Grocery Store has a single checkout stand with a full-time cashier. Customers arrive randomly at the stand at a mean rate of 30 per hour. The service-time distribution is exponential, with a mean of 1.5 minutes. This situation has resulted in occasional long line complaints from customers. Therefore, because there is no room for a second checkout stand, the manager is considering the alternative of hiring another person to help the cashier by bagging the groceries. This help would reduce the expected time required to process a customer to 1 minute, but the distribution still would be exponential. In response to complaints from customers, the manager now has adopted three guidelines for providing a satisfactory level of service to the customers. In particular, she would like to have the percentage of time that there are more than two customers at a checkout stand down below 25 percent. She also would like to have no more than 5 percent of the customers needing to wait at least five minutes before beginning service, or at least seven minutes before finishing service. a) Use the formulas for the M/M/1 Model to calculate L, W, Wq, Lq, P0, P1, P2, for the current mode of operation. What is the probability of having more than two customers at the checkout stand? b) Use the excel template for this model to check your answers in part a. Also, find the probability that the waiting time for beginning service exceeds five minutes, and the probability that the waiting time before finishing service exceeds seven minutes. c) Repeat part a for the alternative being considered by the manager. d) Repeat Part b for this alternative. e) Which approach should the manager use to satisfy her guidelines as closely as possible?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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