Question: 2 digits after decimal point, please answer fast and clear. Thanks a a The College of Engineering wants to rent either a slow or a

2 digits after decimal point, please answer fast and clear. Thanks
a a The College of Engineering wants to rent either a slow or a fast copier. The rental cost for a slow copier is 100 TL per hour and it takes an employee an average of 5 minutes to copy a document. On the other hand, the rental cost for a fast copier is 120 TL per hour and it takes an employee an average of 4 minutes to copy a document. All durations are independent and exponentially distributed. The arrival of employees to the copier to copy a document is a Poisson process with rate 5 per hour. Which machine should be rented to minimize the average cost under the following two different conditions? a) (15 points) If an employee's time is worth 50 TL per hour. b) (15 points) If an employee waits for a total of x hours, then the waiting cost of the employee is 100x2Step by Step Solution
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