Neve Commercial Bank is the only bank in the town of? York, Pennsylvania. On a typical? Friday, an average of 8 customers per hour arrive at the bank to transact business. There is one teller at the? bank, and the average time required to transact business is 3 minutes. It is assumed that service times may be described by the negative exponential distribution. A single line would be? used, and the customer at the front of the line would go to the first available bank teller. If a single teller is? used: A new office park opened in York, PA and Neve Commercial Bank experience a huge surge in business. The average number of customers arriving per hour TRIPLED (change your lambda value). The bank owner wants to determine the optimal number of tellers to schedule to work.
(g) What is the minimum number of tellers that must be scheduled so the bank remains a
FEASIBLE system? Type equation and answer here.
(h) If a bank teller represents a cost of $15 per hour and customer waiting time represents a cost of $20 per hour for each customer waiting in line (not being served, just waiting -- this value was estimated based on the manager’s predicted value of lost customers due to excessive waits), from a quantitative perspective determine how many tellers should Neve Commercial Bank schedule to work on the morning shift. (HINT: Create a cost analysis). Based on your cost analysis and your managerial perspective, what is the number of tellers that you would recommend? Why? Type answer here.