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Bank Boston has a branch at Bryant College. The branch is busiest at the beginning of...

Bank Boston has a branch at Bryant College. The branch is busiest at the beginning of the college year when freshmen and transfer students open accounts. This year, freshmen arrived at the office at a rate of 40 per day (assume 8-hour days). On average, it takes the Bank Boston staff person about ten minutes to process each account application. The bank is considering having one or two tellers. Each teller is paid $12 per hour and the cost of waiting in line is assumed to be $8 per hour. What is the average number of people waiting to open accounts? Question 11 options: 4.16 3.27 5.27 5.83

math   Statistics-And-Probability   
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Answer #1
arrivals/time period = λ= 5 per hour
served/time period= μ= 6.00 per hour
average number of customers in queue Lq = λ2/(μ(μ-λ))= 4.167
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