Question: The registration area has just opened at a large convention center. There are 20 people arriving per hour (Poisson distributed), and the cost of their

The registration area has just opened at a large convention center. There are 20 people arriving per hour (Poisson distributed), and the cost of their waiting time in the queue is valued at $100 per person per hour. The Convention Center provides staff to register guests with a wage of $16 per hour (8 working hours per day). It takes about one minute to register an attendee (exponentially distributed). 1) What is the total daily waiting cost for the one staff model? 2) What is the total daily waiting cost for the two staff model? 3) What is the total daily service cost for the one staff model? 4) What is the total daily service cost for the two staff model? 5) Which model is preferred?

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