Problem: Consumer loan applications are processed in several steps. Suppose we have estimated the bottleneck rate for this process to be 20 applications per day and the raw processing time to be two hours. In recent months, the flow rate of the process has averaged 18 applications per day, while the average number of loans in the process has averaged 60. Assume there are eight hours in a day. What do you think about the efficiency of this process? Support your answer. Please post step by step answer.