The consumer loan division of a major bank wants to determine the size of the staff it would need to process up to 200 loan applications per day. It estimated that each loan officer can process a loan application in approximately 15 minutes. If the utilization of a loan officer is 0.70 (70 percent) and each loan officer works seven hours each day, how many loan officers would be needed to handle that volume of business? Round your answer up to the nearest whole number. loan officers

The consumer loan division of a major bank wants to determine the size of the staff it would need to process up to 200 loan applications per day. It estimated that each loan officer can process a loan application in approximately 15 minutes. If the utilization of a loan officer is 0.70 (70 percent) and each loan officer works seven hours each day, how many loan officers would be needed to handle that volume of business? Round your answer up to the nearest whole number. loan officers

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter12: Queueing Models

Section12.5: Analytic Steady-state Queueing Models

Problem 30P

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The consumer loan division of a major bank wants to determine the size of the staff it would need to process up to 210 loan applications per day. It estimated that each loan officer can process a loan application in approximately 15 minutes. If the utilization of a loan officer is 0.85 (85 percent) and each loan officer works seven hours each day, how many loan officers would be needed to handle that volume of business? Round your answer up to the nearest whole number.
The consumer loan division of a major bank wants to determine the size of the staff it would need to process up to 220 loan applications per day. It estimated that each loan officer can process a loan application in approximately 20 minutes. If the utilization of a loan officer is 0.75 (75 percent) and each loan officer works six hours each day, how many loan officers would be needed to handle that volume of business? Round your answer up to the nearest whole number. loan officers
Go Fly (GF), a startup airline, installed five self-serve kiosks to check in passengers atits Denver gate. In comparison to the five employees that were previously responsiblefor checking in passengers, the average processing time per customer is higher with thekiosks. In addition, customers are still trying to learn the menus in the kiosk, and somepassengers just don’t quite get it: The coefficient of variation of the processing time ishigher with the kiosks than with the employees. In terms of demand, the interarrivaltime of customers has decreased, but the coefficient of variation of interarrival times hasnot changed. Which of the following will happen regarding the average number of passengers waiting in line to check in with the kiosks relative to the average number whenthe employees did this task?a. It will decrease.b. It will stay the same.c. It will increase.d. It may decrease or increase.
You are asked to assess the current service model for a manufacturing line featuring 8 machines. Based on empirical data you have determined that machines have a 20% likelihood of being down and in need of repair. There are currently 2 workers capable of running and repairing machines. Each of the 8 machines can produce 18 units/hour. The overhead for running each of the 8 machines is $700 per day per machine. Each operator is paid at an hourly rate of $16. [You can assume an 8-hour work day] a. Determine the total amount of lost work time. b. Should you hire an additional worker to run the 8 machines in this manufacturing line?
Fatema, Mariam, and Layan are three dental hygienists who work for Dr. Amnah at Family Dentistry. All three hygienists do pretty much the same thing every day. On an average, they see 12 people every day for regular teeth cleaning which involves cleaning, flossing, and normal checkup. Dr. Amnah, on the other hand, has quite unpredictable job. She has to respond to all types of teeth-related emergencies including having to do surgeries. All three hygienists always try to help each other out, have a very good attitude in general toward each other, and keep each other informed about matters that are relevant to them and to Dr. Amnah. Fatema specifically takes on the role of attending all community-related voluntary meetings and functions where Family Dentistry may have a stake or are asked for involvement. On her own time, she keeps up on all dental regulations and business-related news that may have an impact on the firm. Mariam speaks up and offers constructive suggestions regarding…
A company producing a standard line and a deluxe line of dishwashers has the following time requirements (in minutes) in departments where either model can be processed. Standard Deluxe Stamping 3 6 Motor Installation 10 10 Wiring 10 15 The standard models contribute $20 each and the deluxe $30 each to profits. Because the company produces other items that share resources used to make the dishwashers, the stamping machine is available only 30 minutes per hour, on average. The motor installation production line has 60 minutes available each hour. There are two lines for wiring, so the time availability is 90 minutes per hour. Write the formulation for this linear program. What are the optimal daily production quantities of each product and the optimal daily profit?
During a typical Friday, the West End Donut Shop serves 2400 customers duringthe 10 hours it is open. A customer spends, on average, 5 minutes in the shop. On average,how many customers are in the shop simultaneously?
Virginia's Ron McPherson Electronics Corporation retains a service crew to repair machine breakdowns that occur on an average of λ = 2 per 8-hour workday (approximately Poisson in nature). The crew can service an average of μ = 10 machines per workday, with a repair time distribution that resembles the negative exponential distribution. a) The utilization rate of this service system = 0.200.20 (round your response to two decimal places). b) The average downtime for a broken machine = . 40.40 days (round your response to two decimal places).
Virginia's Ron McPherson Electronics Corporation retains a service crew to repair machine breakdowns that occur on an average of λ = 2 per 8-hour workday (approximately Poisson in nature). The crew can service an average of μ = 10 machines per workday, with a repair time distribution that resembles the negative exponential distribution. a) The utilization rate of this service system = 0.200.20 (round your response to two decimal places). b) The average downtime for a broken machine = 0.130.13 days (round your response to two decimal places). c) The average number of machines waiting to receive service at any given time = nothing machines (round your response to three decimal places).
An accounting firm is capable of processing 24 EZ tax forms per day, and the average number of forms on-hand in the office is 60 forms. What is the average processing time per EZ tax form? Assume Little's Law is applied. Round your answer to two decimal places.
Consider the flow in Figure 7–1 but assume that no patients require follow-upappointments. All patients first check in with the single receptionist, which takesan average of 6 minutes. They are then seen by one of two nurses who take weight,blood pressure, etc., which takes an average of 10 minutes. Finally, they are seenby a GP in an examination room, which takes an average of 16 minutes. There arethree GPs. The table below summarizes this data. Assume the clinic has no waitingroom or examination room constraints.Assume that there are eight patients arriving an hour during working hours.Resource Minutes per patient Number of resourcesReceptionist 6 1Nurse 10 2Doctor 16 3a. What is the capacity of each resource?b. Which resource is the bottleneck and hence what is the capacity of the system?
Hello! I need help with this Little's Law question in my homework: Strohrmann, a large-scale bakery in Pennsylvania, is laying out a new production process for their packaged bread, which they sell to several grocery chains. It takes 12 minutes to bake the bread. How many loaves of bread must be baked per minute to produce 4,000 loaves of bread per hour? (Round the answer to 2 decimal places.) How large an oven is required so that the company is able to produce 4,000 loaves of bread per hour, as measured in terms of the number of units that can be baked simultaneously? (Round your answer to the nearest whole number.)