Question: Each hour from 10 A M to 7 P M a bank
Each hour from 10 A.M. to 7 P.M., a bank receives checks and must process them. Its goal is to process all checks the same day they are received. The bank has 13 check processing machines, each of which can process up to 500 checks per hour. It takes one worker to operate each machine. The bank hires both full-time and part-time workers. Full-time workers work 10 A.M. to 6 P.M., 11 A.M. to 7 P.M., or noon to 8 P.M. and are paid $160 per day. Part-time workers work either 2 P.M. to 7 P.M. or 3 P.M. to 8 P.M. and are paid $75 per day. The numbers of checks received each hour are listed in the file S14_100.xlsx. In the interest of maintaining continuity, the bank believes that it must have at least three full-time workers under contract. Develop a work schedule that processes all checks by 8 P.M. and minimizes daily labor costs.
Answer to relevant QuestionsAn oil company has oil fields in San Diego and Los Angeles. The San Diego field can produce up to 500,000 barrels per day, and the Los Angeles field can produce up to 400,000 barrels per day. Oil is sent from the fields to a ...Kate Torelli, a security analyst for Lion Fund, has identified a gold-mining stock (ticker symbol GMS) as a particularly attractive investment. Torelli believes that the company has invested wisely in new mining equipment. ...Use @RISK to draw a triangular distribution with parameters 200, 300, and 600. Then superimpose a normal distribution on this drawing, choosing the mean and standard deviation to match those from the triangular distribution. ...In the Walton Bookstore example with a discrete demand distribution, explain why an order quantity other than one of the possible demands cannot maximize the expected profit. Repeat the previous problem, but make the correlation between the two inputs equal to –0.7. Explain how the results change.
Post your question