subject
Business, 18.03.2021 01:10 mikayla843

Customers arrive at Mike & Steve’s bookstore according to a Poisson process at a mean rate of 48 per hour. The store pays its sales clerks $7.50 per hour in wages and benefits. Mike and Steve’s estimates the goodwill cost of a customer waiting to be served at $6.00 per hour and the goodwill cost of a customer being served at only $1.00 per hour. Customer service time follow an exponential distribution and average 2 minutes. Required:
a. Determine the number of sales clerks Mike & Steve’s should employ to minimize the store’s total average hourly costs.
b. If the customer arrival rate increases by 50% and the goodwill cost of a customer waiting to be served and being served were doubled, determine how many sales clerks Mike & Steve’s should employ to minimize the store’s total average hourly costs?

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 14:40
Which website did you use to find the image you used in your career presentation? complete sentences are not necessary.
Answers: 1
question
Business, 21.06.2019 15:00
Becky fenton has 40/80/40 automobile insurance coverage. if two other people are awarded $75,000 each for injuries in an auto accident in which becky was judged at fault, how much of this judgment would the insurance cover?
Answers: 1
question
Business, 22.06.2019 11:20
Security a has a higher standard deviation of returns than security b. we would expect that: (i) security a would have a risk premium equal to security b. (ii) the likely range of returns for security a in any given year would be higher than the likely range of returns for security b. (iii) the sharpe ratio of a will be higher than the sharpe ratio of b. (a) i only (b) i and ii only (c) ii and iii only (d) i, ii and iii
Answers: 1
question
Business, 23.06.2019 01:10
Mountain mouse makes freeze-dried meals for hikers. one of mountain mouse's biggest customers is a sporting goods superstore. every 66 days, mountain mouse checks the inventory level at the superstore and places an order to restock the meals. these meals are delivered by ups in 55 days. average demand during the reorder period and order lead time is 8585 meals, and the standard deviation of demand during this same time period is about 1919 meals.calculate the restocking level for mountain mouse. assume that the superstore wants a 95\% service level. what happens to the restocking level if the superstore wants a higher level of service-say, 99]%? the restocking level for the 95% service level is 117 mealssuppose there are 25 meals in the superstore when mountain mouse checks inventory levels. how many meals should be ordered, assuming a 95% service level?
Answers: 3
You know the right answer?
Customers arrive at Mike & Steve’s bookstore according to a Poisson process at a mean rate of 48...
Questions
question
English, 05.02.2021 09:40
question
English, 05.02.2021 09:40
question
Mathematics, 05.02.2021 09:40
Questions on the website: 13722367