During slow hours, a certain branch of a bank uses three tellers, each of whom can process

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During slow hours, a certain branch of a bank uses three tellers, each of whom can process customers at a rate of 1.26 per minute. The average time between arrivals of customers is 25 seconds. Assuming that arrivals follow a Poisson distribution and the service times follow an exponential distribution:
a) Find the system utilization
b) Find the average number of customers in line
c) Suppose the hourly wage for a teller is $6 and the bank claims to pay $2 per minute of waiting in the line to every customer. Find the optimal number of clerks, which minimizes the expected total cost per time period.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Operations Management

ISBN: 978-0078024108

12th edition

Authors: William J Stevenson

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