spreadsheet is not needed since it has the answer only

Exercise 3 A bank has a number of tells. The average inter-arrival time of customers is 1 minute and the average service time is 4 minutes. It is required that at least 70% of customers will not have to queue. 1. Determine the minimum number of tells that need to be manned in a pooled system. Justify your calculations. Solution: See Spreadsheet. 2. It is required that at least 95% of customers would wait no more than 5 minutes. Would the number of tellers determined in question 1 above satisfy this requirement? Justify your answer, Solution: See Spreadsheet. 3. If the cost of each teller is $11.5. Let C be the cost per hour of waiting time. Find the range of C for which the number of tellers determined in question 1 above would remain valid if it is desired to minimize the total cost of manpower and waiting, Solution: See Spreadsheet. Exercise 3 A bank has a number of tells. The average inter-arrival time of customers is 1 minute and the average service time is 4 minutes. It is required that at least 70% of customers will not have to queue. 1. Determine the minimum number of tells that need to be manned in a pooled system. Justify your calculations. Solution: See Spreadsheet. 2. It is required that at least 95% of customers would wait no more than 5 minutes. Would the number of tellers determined in question 1 above satisfy this requirement? Justify your answer, Solution: See Spreadsheet. 3. If the cost of each teller is $11.5. Let C be the cost per hour of waiting time. Find the range of C for which the number of tellers determined in question 1 above would remain valid if it is desired to minimize the total cost of manpower and waiting, Solution: See Spreadsheet