RideShare offers short-term rentals of vehicles that are kept in small lots in urbanneighborhoods with plenty of potential customers. With one lot, it has eight cars. Theinterarrival time of potential demand for this lot from its base of customers is 40 minutes.The average rental period is five hours. If a customer checks availability of vehicles in thislot online and finds that they are all rented for the desired time, the customer skips rentingand finds alternative arrangements. However, because customers pay a monthly fee tosubscribe to this service, RideShare does not want customers to be disappointed too often.a. What is the offered load?b. What is the implied utilization?c. What is the capacity of the process (rentals per hour)?d. What is the probability that all eight cars are rented at the same time?e. How many customers are served every hour?f. What is the utilization of the cars?g. How many cars should it have in this lot to ensure that it serves at least 90 percent ofdemand?
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.
RideShare offers short-term rentals of vehicles that are kept in small lots in urban
neighborhoods with plenty of potential customers. With one lot, it has eight cars. The
interarrival time of potential demand for this lot from its base of customers is 40 minutes.
The average rental period is five hours. If a customer checks availability of vehicles in this
lot online and finds that they are all rented for the desired time, the customer skips renting
and finds alternative arrangements. However, because customers pay a monthly fee to
subscribe to this service, RideShare does not want customers to be disappointed too often.
a. What is the offered load?
b. What is the implied utilization?
c. What is the capacity of the process (rentals per hour)?
d. What is the probability that all eight cars are rented at the same time?
e. How many customers are served every hour?
f. What is the utilization of the cars?
g. How many cars should it have in this lot to ensure that it serves at least 90 percent of
demand?
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
