1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
barxatty [35]
3 years ago
14

Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.5 cus

tomers arrive each hour. One design consultant is available to answer questions and make product recommendations. The consultant averages 10 minutres with each customer.
A. Compute the operating characteristics of the customers wiating line, assuming posson arrivals and exponential service times.

B. Service goals dictate that an arriving customer should not wait for service more than an average of 5 minutes. Is this gaol being met?

C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? Will the service goal be met?
Business
1 answer:
Phantasy [73]3 years ago
6 0

Answer:

A) Single-server single-phase model (M/M/1).

\lambda=2.5 \,customers/hour\\\\\mu=6\,customers/hour

B) The goal is not met, as the average time waiting for service is 5.56 minutes.

C) The new mean service rate is 7.5 customers/hour.

In this case, the average time waiting for service is 4 minutes, so the goal is met.

Explanation:

A) This situation can be modeled as a single-server single-phase model (M/M/1).

The mean arrival rate is 2.5 customers per hour.

\lambda=2.5 \,customer/h

The mean service rate is 6 customers per hour, calculated as:

\mu=\frac{60\, min/h}{10 \,min/customer}=6\, customer/h

B) The average waiting time for a customer can be expressed as:

W_q=\frac{\lambda}{\mu}\frac{1}{\mu-\lambda}  =\frac{2.5}{6}\frac{1}{6-2.5} =0.417*0.222=0.093\,hours\\\\W_q=0.093\,hours*(60min/h)=5.56 \,min

The average waiting time is 5.56 minutes, so it is more than the goal of 5 minutes.

C) If the average time spent per customer to 8 minutes, the mean service rate becomes

\mu=\frac{60\, min/h}{8 \,min/customer}=7.5\, customer/h

An the average waiting time for the service now becomes:

W_q=\frac{\lambda}{\mu}\frac{1}{\mu-\lambda}  =\frac{2.5}{7.5}\frac{1}{7.5-2.5} =0.333*0.2=0.067\,hours\\\\W_q=0.067\,hours*(60min/h)=4 \,min

The average time is now 4 minutes, so the goal is achieved.

You might be interested in
Calculate Payroll
musickatia [10]

Answer:

A.1830

B.$1397.75

Explanation:

A.Gross pay

Formula for Gross pay

Gross pay = regular pay + overtime pay

= (40*30)+(14*30*1.5)

=1200+630

= $1830

Part B

B.Net pay

Formula for Net pay

Net pay = gross pay – social security tax – medicare tax – federal income tax

= 1830-(1830*6.0%)-(1830*1.5%)-295

=1830-109.8-27.45-295

= $1397.75

7 0
3 years ago
1. I Co. recently began production of a new product, an electric clock, which required the investment of
dlinn [17]

Answer:

I Co.

1. Desired profit = 10% of invested assets

= $3,200,000 x 10%

= $320,000

2a. Total Variable cost per unit

Variable costs Per unit :

Direct labor                                 $ 10

Direct materials                              6

Factory overhead                         $ 4

Variable Product Cost  ($20)

Administrative and selling           $ 5

Total Variable cost per unit     $25

b. Total fixed cost per unit

Total fixed cost per unit = $2,400,000/160,000 = $15

c. The selling price per unit

Sales / quantity = $7,520,000/160,000 = $47

Explanation:

Data:

Variable costs Per unit :

Direct labor                         $ 10

Direct materials                      6

Factory overhead                $ 4

Variable Product Cost      $20

Administrative and selling  $ 5

Total Variable cost per unit      $25

EA

Fixed costs:

Manufacturing                       $ 1,600,000

Administrative and selling          800,000

Total fixed costs                   $2,400,000

b) Cost-plus approach to product pricing:  This approach requires the addition of the direct materials, direct labor, and overhead costs

c) Required profit = 10% of invested assets

= $3,200,000 x 10%

= $320,000

d) Product cost:

Variable cost = $20 x 160,000 = $3,200,000

Fixed manufacturing costs          $1,600,000

Total production cost                  $4,800,000

Product cost per unit $4,800,000/160,000 = $30

e) Income Statement to determine Sales Revenue

Sales                           $7,520,000

Cost of goods sold

      ($30 x 160,000)     4,800,000

Gross profit                $2,720,000

Fixed Costs:

Manufacturing            $ 1,600,000

Administrative & selling  800,000

Profit                             $320,000

7 0
4 years ago
True or False?<br> An online bank and online banking is the same thing.
nevsk [136]
False

-----------------
6 0
3 years ago
Read 2 more answers
Which payment method typically charges the highest interest rates ACredit cards BCashier's checks CPre-paid cards DPayday loans
Lesechka [4]
The answer is D) payday loans

4 0
3 years ago
What level of management is responsible for originating capital budgeting proposals?
Bess [88]

It is the work of all level of management.

Companies use capital budgeting to analyze large projects and investments, such as new factories or equipment. The technique involves assessing a project's financial inflows and the  outflows to see whether the expected return is within a certain range. Capital budgeting methodologies include discounted cash flow, payback, and throughput studies.

Accountants provide this information, giving ownership the first tool it requires to start preparing the capital budget. Accounting firms often provide predictions of future earnings and the costs of alternative financing solutions to help management make decisions.

Therefore, the answer is all level of management.

To know more about capital budgeting click here:

brainly.com/question/24301148

#SPJ4

6 0
2 years ago
Other questions:
  • Suppose the S&amp;P 500 Index has an average return of 11.2% with a standard deviation of 23.7%, and the average return on Wells
    5·1 answer
  • OKAY, I NEED SOMEONE WHO IS WILLING TO HELP ME WRITE AT LEAST 2 PARAGRAPHS 4-6 SENTENCES. PLEASEEEE IM SOOO SO DESPERATE, THIS I
    10·1 answer
  • Globus Autos sells a single product. 8,300 units were sold resulting in $84,000 of sales​ revenue, $24,000 of variable​ costs, a
    5·1 answer
  • A full-page, fully paid spread in the new york times publicizing a major oil company is best described as ________.
    6·1 answer
  • Suppose Charlene Brewster has timesâ (in seconds) of 8.5â, 8.5â, 8.3â, 8.6â, 8.7â, 8.4 and a performance rating of 85â%.
    12·1 answer
  • Mona is induced by her guardian Newt to sign a contract to invest her student loan funds in Overseas Bank through Newt’s investm
    6·1 answer
  • Environmental scanning is the act of analyzing the critical external contingencies and trends facing an organization in terms of
    6·1 answer
  • Gentle Ben's Bar and Restaurant uses 7,400 quart bottles of an imported wine each year. The effervescent wine costs $5 per bottl
    12·1 answer
  • The expected return on equity is Blank______ to leverage. Multiple choice question. positively related unrelated negatively rela
    12·1 answer
  • When computing the present value, the interest rate will vary depending on the amount of risk. riskier investments, such as fdic
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!