Question: QUESTION 1 ar loan application arrive at a processing center approximately every 5 minutes. At s review step usually takes 15 minutes, but can be

QUESTION 1 ar loan application arrive at a processing center approximately

QUESTION 1 ar loan application arrive at a processing center approximately every 5 minutes. At s review step usually takes 15 minutes, but can be as short as 12 minutes or as ed 1.1 C this point, 1 of loan officers will review the application to ensure that it is complete. long as 18 minutes Applications are sent to an automatic processing machine where they are process This process can take from 0.5 to 1.5 hours to complete, but usually requires 1 hour.It is assumed that the automatic processor can process as many applications as needed. After processing, the results are reviewed by loan officer who will write either an acceptance or rejection document. This task usually takes 7 minutes, but can requires anywhere from 5 to 10 minutes to complete. At this point, the loan application process is complete, and the acceptance or rejection document is sent to the customer Run this simulation for one 8-hour day (20)

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