Spreadsheet modeling and data analysis

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Reference no: EM131675115

Another queuing problem question from Ragsdale "Spreadsheet Modeling & Data Analysis using the Q.xls template.

Setup: patients arrive to a physician's office according to a poisson process at a rate of 6 patients per hour. The office is staffed by two physicians. Each physician spends 20 minutes (exponentially distributed) with a patient. Use the Q.xls template to answer the following question:

Question: if the physician earns $200/hr, what is the minimum goodwill cost of waiting per hour that would make you hire an additional physician to staff the office?

Reference no: EM131675115

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