Question

A wealth management company is able to process 300 customer statements per day. The average processing time per statement is two days. What is the average number of statements the company has in process at any time

Answer 1

Answer:

the company should process 600 statements in order to process in total 300 statements per day

Step-by-step explanation:

since the requirement is 300 statements/day but the company processes on average 1 statement/2 days (0.5 statements/day) , then the company has to process

number of statements required = 300 statements/day / (0.5 statements/day) = 600

then the company should process 600 statements in parallel ( assuming that is has enough capacity and each customer statement is not affected by the others) in order to process in total 300 statements per day