3. (25) Mortgage applications go through a 3-step process at a bank. The first is an...

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3. (25) Mortgage applications go through a 3-step process at a bank. The first is an inspection for errors (mean 5 minutes). The second is a credit check (mean 3 minutes). The final is approval or rejection (mean 7 minutes). Assume exponential process times. a. (10) Compute average CT and TH for w having values of 2, 4, 6, 8 and W₁. b. (5) Compare these values to the "best case" values for the various WIP levels by graphing the two average CT curves together and the two average TH curves together. c. (5) How much worst are the CT and TH of the exponential case from the "best case" at critical WIP on a percentage basis? d. (5) At what value of WIP will average TH from the exponential line be 90% of that for the "best case" line? 3. (25) Mortgage applications go through a 3-step process at a bank. The first is an inspection for errors (mean 5 minutes). The second is a credit check (mean 3 minutes). The final is approval or rejection (mean 7 minutes). Assume exponential process times. a. (10) Compute average CT and TH for w having values of 2, 4, 6, 8 and W₁. b. (5) Compare these values to the "best case" values for the various WIP levels by graphing the two average CT curves together and the two average TH curves together. c. (5) How much worst are the CT and TH of the exponential case from the "best case" at critical WIP on a percentage basis? d. (5) At what value of WIP will average TH from the exponential line be 90% of that for the "best case" line? 3. (25) Mortgage applications go through a 3-step process at a bank. The first is an inspection for errors (mean 5 minutes). The second is a credit check (mean 3 minutes). The final is approval or rejection (mean 7 minutes). Assume exponential process times. a. (10) Compute average CT and TH for w having values of 2, 4, 6, 8 and W₁. b. (5) Compare these values to the "best case" values for the various WIP levels by graphing the two average CT curves together and the two average TH curves together. c. (5) How much worst are the CT and TH of the exponential case from the "best case" at critical WIP on a percentage basis? d. (5) At what value of WIP will average TH from the exponential line be 90% of that for the "best case" line? 3. (25) Mortgage applications go through a 3-step process at a bank. The first is an inspection for errors (mean 5 minutes). The second is a credit check (mean 3 minutes). The final is approval or rejection (mean 7 minutes). Assume exponential process times. a. (10) Compute average CT and TH for w having values of 2, 4, 6, 8 and W₁. b. (5) Compare these values to the "best case" values for the various WIP levels by graphing the two average CT curves together and the two average TH curves together. c. (5) How much worst are the CT and TH of the exponential case from the "best case" at critical WIP on a percentage basis? d. (5) At what value of WIP will average TH from the exponential line be 90% of that for the "best case" line?

Answer rating: 100% (QA)

a Given Inspection time mean 5 minutes Credit check time mean 3 minutes Approval or rejection time m... View the full answer