The insurance company sells home insurance to homeowners. They receive two types of applications; from new homeowners
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Question:
| Process Time (in hrs) | ||
Type | Data Entry | Credit History | Approval |
New | 1 | 4 | 8 |
Existing | 1 | 2 | 4 |
a) What is the daily capacity of this system with the current application mix?
b) Michael is wondering if it is possible to increase the system's capacity by hiring a part time employee to help him. If a part-time employee
who could also carry out the first two steps is hired to work 4 hours a day, what is the daily capacity of the system?
c) What is the daily capacity of the system if they hire a full-time employee to help Michael who would work 8 hours a day?
Related Book For
Foundations of Finance The Logic and Practice of Financial Management
ISBN: 978-0132994873
8th edition
Authors: Arthur J. Keown, John D. Martin, J. William Petty
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