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Money R’Us is an all-purpose financial institution located in Dayton’s financial district. Money R’Us has 6 departments and a supervisory staff as shown below. Customers arrive at each department at random (i.e. a Poisson process) with mean arrival rates as indicated in Figure 1. Figure 1 Customer routings Shown in Figure 1are the number of customer arriving externally at each department (in bold red) per day and the fraction of customers once processed at a department that are transferred to another department for processing . Business hours are from 9:00 AM to 3:00 PM (Eastern Time zone). Table 1 provides service time and associate costs. Mean processing time in minutes per customer Cost per (6-hour) day per department associate (server) Banking #1 20 $120 Insurance #2 30 $200 Supervisor #3 15 $500 Investments #4 45 $350 Loans #5 30 $270 Mortgages #6 60 $185 Credit cards #7 15 $120 Table 1. Department Data Assume steady-state and exponential distributions in answering the following. Part (a) Determine the minimum number of associates that must be assigned to each department in order to support the workload (i.e. steady-state). Part (b) Based upon your solution to Part (a), find: (1) The total associate costs (2) The expected time a customer is in the system (3) The expected number of customers in the system Part (c) Determine the number of associates that should be assigned to each department so that the mean customer waiting time in that department is no more than 10 minutes. Part (d) Based upon your solution to Part (c), find: (1) The total associate costs (2) The expected time a customer is in the system (3) The expected number of customers in the system
Suppose the hospital currently buys trays in batches of 200. What is the annual saving achieved by adopting the optimal policy of part a? ($144)
In order to achieve a 10percent multifactor productivity improvement by reducing the material costs, Elucidate how much should these costs be reduced.
Discuss the mean absolute deviation (MAD) and the mean square error (MSE). Which do you think is a better indicator of the accuracy of a forecasting method and why?
Appraising employee performance on a regular basis has an important influence on an employee’s performance. Coaching is an ongoing task that gives employees instruction and suggestions. Promotion of employees is generally based on recognition of past..
Among the most controversial topics in physical science, global warming has received a great deal of attention during the past decade. Given its great impacts on both humans and the environment, lawmakers and scientists must weigh heavily the informa..
Which of the following statements is true regarding quality improvement?
The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build a docking facility where one boat at a time can stop for gas and servicing.
What is the difference between positive motivation and negative motivation? Describe an ad that the team has seen that markets a brand using positive motivation and another ad that uses negative motivation in marketing a brand. Provide links to the a..
formulate a linear programming model that will enable the farmer to determine th number of acres where sugarcane and/or corn should be planted in order to maximize profit from his land. using ALL 50 acres, but not all workers or fertilizers.
sources must be cited in apa format. your response should be a minimum of one 1 single-spaced page to a maximum of two
Once you have constructed your process diagram, you can begin to answer the questions in the case study description: How is capacity defined at a wastewater treatment plant
Pepsi uses six-sigma technique to evaluate whether its 15 oz Gatorade has consistent weight. Pepsi took a sampling of 1000 15 oz Gatorade and found out that the average weight was 15.12 oz with a standard deviation of 0.3 oz. Pepsi considers a to..
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