A small service firm responds to walk-in customers who arriv…
A small service firm responds to walk-in customers who arrive on average, every 24 minutes. During one shift, the firm is staffed by a relatively new and somewhat inexperienced employee. This employee currently has an average service time of 10 minutes per customer. Assuming Poisson arrivals and exponential service times, and using your knowledge of queuing theory, answer the following questions. Points possible on the following questions are: 1a) 5, 1b) 5, 2c) 5, 2di) 5, 2dii) 5Ideally, the firm desires that the average waiting time for a customer is less than five minutes. Calculate the average wait in queue, provide your numerical result, and explain whether the objective of average wait time of less than five minutes will or will not be satisfied.Calculate the average length of the waiting line, provide your numerical result. Then answer the following: If the firm desires to have no more than one person waiting, will this goal be accomplished On average?Always?
Read DetailsAll exams are closed note and closed book. No reference mate…
All exams are closed note and closed book. No reference materials are allowed, except students may use one page (one side of one 8.5 x 11 sheet of paper) of hand-written formulas. Some questions require analysis using Microsoft Excel to perform necessary calculations, therefore, it is acceptable to use that software on the computer. However, the student is restricted to using only blank spreadsheets, and the files downloaded directly from the exam. Any other use of Excel is prohibited. No other electronic devices (including cell phones, ipads, ipods, etc.) are allowed at any time during the exam.No other software (other than what is mentioned here) is allowed to be used while the student is taking the exam – This means students are not to access any other portions, sections, or areas of Blackboard while taking the exam.IMMEDIATELY FOLLOWING COMPLETION OF THE EXAM: Email the files that you uploaded into the exam to Prof. Dunlevy (matt.dunlevy@UND.edu)
Read DetailsConsider the decision tree depicted below: d1, d2, d3 repres…
Consider the decision tree depicted below: d1, d2, d3 represent different decisions, and s1, s2, s3 represent different states of nature. Then answer the following questions. Parts 1, 2, & 3 of this problem are worth 6, 4, and 6 points respectively. Decision Tree Exam 1.png What is the expected value for decisions 1, 2, 3 (models A, B, C)? Include a summary of your calculations in response to this question and give your numerical result. Which decision should you make if you are maximizing Expected monetary value? Calculate the Expected Value of Perfect Information (EVPI) for this problem, show/include a summary of your calculations in response to this question and give you numerical result.
Read DetailsThe Sporting Equipment Manufacturing Company makes two diffe…
The Sporting Equipment Manufacturing Company makes two different kinds of baseball gloves: a Regular and a Professional. The firm has 900 hours of time available in it’s cutting and sewing department, 400 hours in it’s finishing department, and 100 hours in the packaging and shipping department. Profit contribution per glove is $6 for the regular glove and $12 for the professional glove. Production Time (in Minutes)Model Cutting and Sewing Finishing Packaging and ShippingRegular 60 30 7.5Professional 90 20 15Assume the company wants to maximize total profit contribution. Use R to represent the number of regular gloves and P to represent the number of Professional gloves. Provide the following for a Linear Program: a) Objective function, b) A constraint for the Finishing DepartmentEach part of the question receives an equal proportion of the points available.
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