According to the statistical surveys conducted by the Municipality of Balcova, students of Izmir University of...

According to the statistical surveys conducted by the Municipality of Balcova, students of Izmir University of Economics and small buses arrive to the bus stop around 4 PM with a Poisson distribution. A number of students come to a bus stop on average every 2 minutes with a rate of 10. At the same time a bus arrives to bus stop on average every 10 minutes and its passenger capacity is 20. Also, it is calculated that the average salary of the students is around 1200 TL per month and they are using this budget 8 hours per day and 30 days per months. The cost of small buses per hour is calculated as 1800 TL. According to this information, the Municipality of Balcova wants to re-design bus stop capacity. Therefore, what should be the optimal capacity for this bus-stop?

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Expert Solution

Here, we observe that the total operating cost is increased for 4 buses.

Therefore, the optimal capacity for this bus-stop = 3 buses

orchestra answered 1 year ago

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