Question: I need an accurate excel format. Please don't copy from other answers. ITIS 1P97 FALL 2019 PROBLEM 4: (30 Marks) Management of Charlottesville Bank is

 I need an accurate excel format. Please don't copy from other

I need an accurate excel format. Please don't copy from other answers.

ITIS 1P97 FALL 2019 PROBLEM 4: (30 Marks) Management of Charlottesville Bank is concerned about a loss of customers at its main office down-town. One solution that has been proposed is to add one or more drive-through teller windows to make it easier for customers in cars to obtain quick ser- vice without parking. Neha Patel, the bank president, thinks the bank should only risk the cost of installing one drive-through window. She is informed by her staff that the cost (amortized over a 20-year period) of building a drive-through window is $36,000 per year. It also costs $48,000 per year in wages and benefits to staff each new drive-through window. The director of management analysis, Robyn Lyon, believes that two factors encourage the immediate construction of two drive-through windows, however. According to a recent article in Banking Research magazine, customers who wait in long lines for drive-through service will cost banks an average of $3 per minute in loss of goodwill. Also, adding a second drive-through window will cost an additional $48,000 in staffing, but amortized construction costs can be cut to a total of $60,000 per year if the two drive-through windows are installed together instead of one at a time. To complete her analysis, Lyon collected arrival and service rates at a competing down-town bank's drive-through windows for one month. These data are shown in the following table: Service Time (Minutes) . Time Between Number of Arrivals (Minutes) Occurrences 200 250 300 150 100 Number of Occurrences 100 150 350 2 3 4 5 150 150 100 A. Simulate a 1-hour time period, from 1 PM to 2 PM, for a single-teller drive through. Replicate the model 200 times. (12 marks) B. Simulate a 1-hour time period, from 1 PM to 2 PM, for a single line of people waiting for next available teller in a two-teller system. Replicate the model 200 times. (12 marks) C. Conduct a cost analysis of the two options (based on the 200 replications). Assume that the bank is open 7 hours per day and 200 days per year. (6 marks) ITIS 1P97 FALL 2019 PROBLEM 4: (30 Marks) Management of Charlottesville Bank is concerned about a loss of customers at its main office down-town. One solution that has been proposed is to add one or more drive-through teller windows to make it easier for customers in cars to obtain quick ser- vice without parking. Neha Patel, the bank president, thinks the bank should only risk the cost of installing one drive-through window. She is informed by her staff that the cost (amortized over a 20-year period) of building a drive-through window is $36,000 per year. It also costs $48,000 per year in wages and benefits to staff each new drive-through window. The director of management analysis, Robyn Lyon, believes that two factors encourage the immediate construction of two drive-through windows, however. According to a recent article in Banking Research magazine, customers who wait in long lines for drive-through service will cost banks an average of $3 per minute in loss of goodwill. Also, adding a second drive-through window will cost an additional $48,000 in staffing, but amortized construction costs can be cut to a total of $60,000 per year if the two drive-through windows are installed together instead of one at a time. To complete her analysis, Lyon collected arrival and service rates at a competing down-town bank's drive-through windows for one month. These data are shown in the following table: Service Time (Minutes) . Time Between Number of Arrivals (Minutes) Occurrences 200 250 300 150 100 Number of Occurrences 100 150 350 2 3 4 5 150 150 100 A. Simulate a 1-hour time period, from 1 PM to 2 PM, for a single-teller drive through. Replicate the model 200 times. (12 marks) B. Simulate a 1-hour time period, from 1 PM to 2 PM, for a single line of people waiting for next available teller in a two-teller system. Replicate the model 200 times. (12 marks) C. Conduct a cost analysis of the two options (based on the 200 replications). Assume that the bank is open 7 hours per day and 200 days per year. (6 marks)

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