You have been asked to analyze the queue for registrations for a popular MSOM seminar at...

You have been asked to analyze the queue for registrations for a popular MSOM seminar at a major national conference. Conference attendees arrive to register at the rate of 5 people every 15 minutes (Possisson distributed). It takes each host, any number of which can be hired directly through the conference at the cost of $17 per hour, 7 minutes to register a guest, following a negative exponential distrubution. The conference recognizes a waiting cost of $40 per hour per guest in line. A single waiting line is set up but can accommodate multiple servers.

a) What is the minimum number of hosts that could be hired for this system?

b) What is the optimal number of servers needed to minimize total costs?

c) Rounded to the nearest dollar, what is total cost for the system (including waiting and service costs) at the optimal number of servers i the registation desk is open for an 8 hours day?

d) At the optimal number of servers, what is the average time a guest would spend waiting to register?

Solutions

Expert Solution

please like if it helps

orchestra answered 1 year ago

Next > < Previous

Related Solutions

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations (000) 5.00 7.00 3.00 5.00 9.00 9.00 7.00 11.00 13.00 14.00 12.00 a. Calculate the forecasted registrations for years 2 through 12 using exponential smoothing, with a smoothing constant (α) of 0.40 and a starting forecast for 5.00 year 1 (round your responses to one demical...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations (000) 4.00 5.00 4.00 4.00 9.00 9.00 6.00 9.00 11.00 16.00 12.00 a) Calculate the forecasted registrations for years 2 through 12 using exponential smoothing, with a smoothing constant (α) of 0.30 and a starting forecast of 4.00 for year 1 (round your responses to...

imagine you are a business consultant to ExxonMobil and you have been asked to analyze, advise,and...

imagine you are a business consultant to ExxonMobil and you have been asked to analyze, advise,and create recommendations on how the firm can ensure its future success in it's current market. prepare a minimum of 1050 word analysis of economic data and business data to explain how the core economic principles impact the sustainability of the firm and what actions the firm can take to ensure success. address the following: •identify the market structure of ExxonMobil operates in, analyze its...

You are an analyst at the ABC Corp and have been asked to analyze factors affecting...

You are an analyst at the ABC Corp and have been asked to analyze factors affecting the likely profitability of ABC entering the market for “non-historical” stone arrowheads. Here is a list of facts that you have accumulated about the stone arrowhead industry. • The main input, flint, is produced by about 250 local flint miners. Some of them offer bulk discounts on the amount of flint you order, some do not. • You turn the flint into arrowheads using...

Answer the following questions, assuming that you have been asked to analyze a potential acquisition by...

Answer the following questions, assuming that you have been asked to analyze a potential acquisition by your company: (a) Which long-term assets on its financial statements are the most likely to be misstated by their carrying amounts? Explain your reasoning. (b) Is it possible that the company being considered for acquisition has some long-term assets that do not appear on its financial statements at all? Explain why or how this might occur.

In your role as a financial analyst, you have been asked to analyze certain aspects of...

In your role as a financial analyst, you have been asked to analyze certain aspects of working capital management for The Kroger Co. (KR) and Sprouts Farmers Market, Inc. (SFM). In your analysis, you should consider the following: a) Cash conversion cycle. b) Liquidity. c) Short-term financing versus long-term financing.

Suppose that you have been asked to analyze an economic model. Describe how you would structure...

Suppose that you have been asked to analyze an economic model. Describe how you would structure your analysis?

You have been asked to analyze the proposed Skopi Project. Initial investment in the project would...

You have been asked to analyze the proposed Skopi Project. Initial investment in the project would be $100 million, which would be spent on planning, design, and construction. This phase would take three years. It is proposed that in year 0, $10 million would be spent. In year 1, $30 million would be spent. In year 2, $60 million would be spent. Revenues would be generated beginning in year 3. In year 3, revenues would be $10 million. In year...

You have been asked to analyze your hospitals medical records to look for reasons behind an...

You have been asked to analyze your hospitals medical records to look for reasons behind an unexplained spike in deaths. summary of how you would approach this problem. Questions you might consider in your approach include: - What specific patient data is available? - What form is the data? Is it structured or unstructured? Is both structured and unstructured data available? - Are different techniques required to mine structured and unstructured data? Do you need to use both? - Overall,...

1. You have been asked to analyze the capital structure of Stevenson Steel. The company has...

1. You have been asked to analyze the capital structure of Stevenson Steel. The company has supplied you with the following information: There are 100 million shares outstanding, trading at $ 10 a share. The firm has bond outstanding of $500 million (in market value) in total. Each bond has a coupon rate of 6% with semiannual payment and 10 year maturity. Current price of each bond is quoted at 96.7. The beta for the firm currently is 1.04, the...

Subjects