Question

In: Finance

During the registration at the State University every semester, students in the college of business must...

During the registration at the State University every semester, students in the college of business must have their courses approved by the college adviser. It takes the adviser an average of 2 minutes to approve each schedule, and students arrive at the adviser’s office at the rate of 28 per hour.

Question 6: How long does a student spend waiting on average for the adviser?

A.

13 minutes

B.

14 minutes

C.

30 minutes

D.

28 minutes

E.

none of the answers is correct

How many students on average will be waiting for the adviser (round to the closest integer)? (1 point)

A.

2

B.

13

C.

14

D.

28

E.

none of the above

What percentage of the time during his office hours will the adviser be busy working with students’ schedules?

A.

less than 80%

B.

87%

C.

93%

D.

95%

E.

more than 95%

The dean of the college has received complaints from students about the length of time they must wait to have their schedules approved. The dean feels that waiting time should be no more than 10 minutes. Each assistant the dean assigns to the adviser’s office will reduce the average time required to approve a student schedule by 0.25 minute, down to a minimum time of 1 minute to approve a schedule. How many assistants should the dean assign to the adviser?

A.

one

B.

two

C.

three

D.

four

E.

more than four

Solutions

Expert Solution

Q6) Waiting time = 60 minutes per hour / (Service time – Arrival time)

Here, the service time = 60 minutes per hour / Average time of approval of each schedule

                                          = 60 / 2

                                          = 30 minutes

Waiting time = 60 / (30 – 28)

                        = 60 / 2

                        = 30 minutes

Answer: C

Q7) Average number of students waiting = (Arrival rate) ^2 / {Service rate (Service rate – Arrival rate)

                                                                        = 28^2 / {30 (30 – 28)}

                                                                        = 784 / 60

                                                                        = 13.0666….

                                                                        = 13 students (rounded)

Answer: B

Q8) Required percentage = (Arrival time / Service time) × 100

                                          = (28 / 30) × 100

                                          = 93.3333…. %

                                          = 93% (rounded)

Answer: C


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