The manager of a bank wants to use an MyMys queueingmodel to weigh the costs of extra tellers against the costof having customers wait in line. The arrival rate is 60customers per hour, and the average service time is fourminutes. The cost of each teller is easy to gauge at the$11.50 per hour wage rate. However, because estimatingthe cost per minute of waiting time is difficult, the bankmanager decides to hire the minimum number of tellersso that a typical customer has probability 0.05 of waitingmore than five minutes in line.a. How many tellers will the manager use, given thiscriterion?b. By deciding on this many tellers as “optimal,” themanager is implicitly using some value (or some range of values) for the cost per minute of wait-ing time. That is, a certain cost (or cost range) would lead to the same number of tellers as sug-gested in part a. What is this implied cost (or cost range)?
The manager of a bank wants to use an MyMys queueing
model to weigh the costs of extra tellers against the cost
of having customers wait in line. The arrival rate is 60
customers per hour, and the average service time is four
minutes. The cost of each teller is easy to gauge at the
$11.50 per hour wage rate. However, because estimating
the cost per minute of waiting time is difficult, the bank
manager decides to hire the minimum number of tellers
so that a typical customer has probability 0.05 of waiting
more than five minutes in line.
a. How many tellers will the manager use, given this
criterion?
b. By deciding on this many tellers as “optimal,” the
manager is implicitly using some value (or some
range of values) for the cost per minute of wait-
ing time. That is, a certain cost (or cost range)
would lead to the same number of tellers as sug-
gested in part a. What is this implied cost (or cost
range)?
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