Question: A small bank is trying to determine how many tellers to employ. The total cost of employing a teller is $100 per day, and a

A small bank is trying to determine how many tellers to employ. The total cost of employing a teller is $100 per day, and a teller can serve an average of 60 customers per day. On average, 50 customers arrive per day at the bank, and both service times and inter-arrival times are exponentially distributed. If the delay cost per customer day is $100, how many tellers should the bank hire?

Step by Step Solution

3.36 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Model Number of tellers to employ at a bank Inputs Unit of time day Arrival r... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (3 attachments)

PDF file Icon

1497_60b74122d63d9_695225.pdf

180 KBs PDF File

Excel file Icon

1497_6049a088c85cd_695225.xlsx

300 KBs Excel File

Word file Icon

1497_60b74122d63d9_695225.docx

120 KBs Word File

Students Have Also Explored These Related Practical Management Science Questions!