A property management team recently signed a contract with an old downtown Toronto office building, and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A property management team recently signed a contract with an old downtown Toronto office building, and the first issue they must address is the current parking system. According to their observations, the current parking system has only one lane and one parking validation window, where one parking staff operates on a first-come, first-served basis. The parking staff can validate the parking passes and issue receipts at a rate of 40 seconds per car on average following a negative exponential distribution. Following a Poisson distribution, 86 cars will arrive at the entrance every hour on average during business hour. (a) List appropriately service rate and arrival rate first and then calculate what is the parking entrance utilization? (b) What is the average number of cars waiting in line? (c) What is the average time in minutes that a car has to spend at the parking entrance (both waiting in line and being served)? (d) What is the probability that there will be more than three cars at the parking entrance? The property management team consider replacing the manual parking entrance with automated parking system. The new parking system uses Radio-frequency identification (RFID) technology to read signal from the implanted RFID microchips in the updated parking passes at a constant rate of 98 cars per hour. Assuming the arrival rate is the same. (e) With the automated parking system, what is the average time (in minutes) of a car needs to wait in line? (f) If the goal is to reduce number of cars at the parking entrance (both waiting in line and being served) to under 5 cars, would you agree to use automated parking system? Justify your answer. A property management team recently signed a contract with an old downtown Toronto office building, and the first issue they must address is the current parking system. According to their observations, the current parking system has only one lane and one parking validation window, where one parking staff operates on a first-come, first-served basis. The parking staff can validate the parking passes and issue receipts at a rate of 40 seconds per car on average following a negative exponential distribution. Following a Poisson distribution, 86 cars will arrive at the entrance every hour on average during business hour. (a) List appropriately service rate and arrival rate first and then calculate what is the parking entrance utilization? (b) What is the average number of cars waiting in line? (c) What is the average time in minutes that a car has to spend at the parking entrance (both waiting in line and being served)? (d) What is the probability that there will be more than three cars at the parking entrance? The property management team consider replacing the manual parking entrance with automated parking system. The new parking system uses Radio-frequency identification (RFID) technology to read signal from the implanted RFID microchips in the updated parking passes at a constant rate of 98 cars per hour. Assuming the arrival rate is the same. (e) With the automated parking system, what is the average time (in minutes) of a car needs to wait in line? (f) If the goal is to reduce number of cars at the parking entrance (both waiting in line and being served) to under 5 cars, would you agree to use automated parking system? Justify your answer.
Expert Answer:
Posted Date:
Students also viewed these general management questions
-
Find dy/dx for the following functions. y COS X sin x + 1
-
Why is it so difficult for most small business owners to raise the capital needed to start, operate, or expand their ventures?
-
Heineken N.V. reports the following information for its Loans and Borrowings as of December 31, 2008, including proceeds and repayments for the year ended December 31, 2008 (euros in millions). Loans...
-
Give three ways in which organizational use of the Internet has affected the information systems auditor's function.
-
The following data were drawn from the CAFRs of two northern Virginia cities (all dollar amounts are in thousands): a. Per capita total general-fund taxes? b. Per capita property taxes? c. Tax rate...
-
List and explain 3 techniques for generating creative ideas and concepts and explain the process for translating the ideas into workable concepts. Write your answer using 200 - 250 words.
-
Aram's taxable income before considering capital gains and losses is $ 8 3 , 0 0 0 . Determine Aram's taxable income and how much of the income will be taxed at ordinary rates in each of the...
-
The current spot price of gold is $1860 (per ounce), the futuresprice for a contract expiring in 3- months is $1870, and theappropriate risk-free rate on a continuously compounded basis is 1%per...
-
The four people below have the following investments. Invested Interest Amount Rate Jerry Elaine $13,000 12% 16,000 6 Compounding Quarterly Semiannually George 23,000 8 Annually Kramer 19,000 10...
-
2) If you strike a pool ball with just the right amount of back spin, it will come to a perfect stop. (a) What is the appropriate relationship between the initial velocity, vi, and the initial...
-
1. Explain how intoxication can affect mental capacity, culpability and defenses to crime. What changes does the brain undergo while subject to intoxication? Should criminal defendants be held...
-
Dr. Foot has been using the name "ACHILLES PILLOW" for his "medical shoe" for the last five years. He wants to register ACHILLES PILLOW as a domain name for his web site. A "whois" search has,...
-
(a) LISE ANDERSON, MD Bal Sept. 4 5 7 Accounts Sup- Cash +Receivable plies $3,000 + $1,500 + +800 $600 -800 +2,800 +7,700 -2,900 -800 12 15 -2,800 15 -1,900 15 -275 18 +700 20 -1,000 26 +3,000 29 30...
-
Make an argument that Williams had a right to delay the closing until after August 1.
-
Assemblit, Inc., is a medium-sized parts manufacturing company based in London with distribution outlets in the major cities throughout Great Britain. It has a mainframe computer in its London...
-
For the following steps in a security program, what is the most likely sequence in which they will be conducted? I Controls identification II Exposures analysis III Assets valuation IV Threats...
-
Briefly define what is meant by a security program. What are the eight major steps that must be undertaken during the conduct of a security program?
Study smarter with the SolutionInn App