What form of payment is directly tied to a customer's bank account?

The bank is working to develop an efficient work schedule for full-time and part-time tellers. The schedule must provide for eff

Kitty [74]

Answer:

The solution is given below.

Explanation:

It is a practical, complex scheduling problem that can be easily modelled and solved as IP. Note that part time and full time employees are paid at different rates. So, it is important that the bank operates to provide required service level (indicated by the number of tellers per hour) while minimizing total cost due to staff salary.

We use x as full time and y as part time staff.

It would help if you construct a table as shown below to better analyze the problem before attempting to model it. Red shows work hrs of full time staff and green is for part timers. Just follow their work hour rules.

So, full timers have 3 options:

(i) start at 9 – work till 1pm, take 1 hr break, then work 2 – 5 pm

(ii) start at 10 – work till 2pm, take 1 hr break, then work 3 – 6 pm

(iii) start at 11 – work till 3pm, take 1 hr break, then work 4 – 7 pm

that’s all… bank closes at 7 pm.

However, part timers don’t have 1 hr break. They work straight 4 hrs and leave. See green cells above to understand their alternatives.

Now, decision variables should include this work hour information. Here goes their definition. You must clearly define decision variables in exam, otherwise, the model is meaningless.

X9 = number of full time staff who start at 9 and follow the hour-related rule (no need to specify more details; those are already undestood)

X10 = number of full time staff who start at 10 and follow the hour-related rule

X11 = number of full time staff who start at 11 and follow the hour-related rule

Y9 = number of part time staff who start at 9 and follow the hour-related rule

Y10 = number of part time staff who start at 10 and follow the hour-related rule

…. This way you define up to Y15.

You must also specify that:

Xi, Yi >=0, integers.

Objective Function:

Minimize Z = 105*(x9 + x10 + x11) + 32* (y9 + y10 + … + y 15)

You will need one “covering” constraint for each working hour. Both full and part-timers can “cover” the duty of each hour. Look at the color-coded table (above) column-wise. The 9:00-10:00 hour can be covered only by x9 and y9 staff; next hour by x9, x10, y9, y10 only,… and so on. So, the

constraints are: (attached with image)

8 0

3 years ago

Heidi, Sergei, Shou-Ju, and Jesus form a general partnership to operate a sporting equipment store. After their first store is

denpristay [2]

Answer: D. Heidi's share of profits is split among the remaining 3 partners.

Explanation: A general partnership is a form of business arrangement by which two or more individuals agree create a business, sharing in all assets, profits, and financial and legal liabilities. However, unless there is a signed written agreement between partners when starting the business, with a clause setting out what would happen on the occurrence of death, the general partnership dissolves after the death of a partner. If the partnership terminates, then the assets and outstanding liabilities are all sold and the proceeds are divided equally among the partners. Therefore, Heidi's share of profits is split among the remaining 3 partners.

8 0

3 years ago

Employees have leadership prototypes, which they use to Multiple Choice decide whether a leader is effective based on their perc

VikaD [51]

Based on implicit leadership theory, Employees have leadership prototypes, which they use to "<u>decide whether a leader is effective based on their perception of how the leader should look and act."</u>

<h3>What is Leadership Prototype?</h3>

Leadership Prototype generally occurs when people evaluate or assess a leader's effectiveness.

Leadership prototypes are implicit leadership whereby individuals use the cognitive indication of an actual or abstract leader believed to possess all leaders' attributes.

Hence, in this case, it is concluded that the correct answer is to "<u>decide whether a leader is effective based on their perception of how the leader should look and act."</u>

Learn more about the Leadership prototype here: brainly.com/question/9772602

5 0

2 years ago

The net investment income tax (niit) is computed on ___________.

omeli [17]

<span>Net investment is computed on several factors which includes capital gains, rental and/or royalty income, income from businesses, interest. To calculate net investment income, an individual's investment income will be reduced by a certain amount . This is simply to determine the depreciation of the investment.</span>

4 0

3 years ago

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. What is another way to

Sphinxa [80]

Answer:

Market supply is much more elastic in the long run than the short run.

Explanation:

Here are the options to this question :

In the long run, average total cost is minimized

Market supply is much less elastic in the long run than the short run.

In the long run, price equals marginal cost.

Market supply is much more elastic in the long run than the short run.

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.

In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.

When the supply curve is horizontal or nearly so, it means that supply is highly elastic. a small change in price would greatly affect the quantity supplied.

7 0

3 years ago