The credit union is now considering adding a third teller (in the form of an M/M/3) with the goal of solving the following argument: arg min $15s + $11E [L,) E(2,3) Recall the term "arg min" or "argument of the minima" gives the solution s such that the function f (s) = $15s + $11E[L4] attains its minimum value. Before solving this problem, what is the utilization p for s=3? (Hint: remember that A and u were given in the opening scenario.) O. 0.67 Ob. 04 Oe 05 Od. 0.33 Considering s, what is the average time (minutes) spent in the system, E[W]? Oa 30.1 minutes Ob. 10.7 minutes Oe 26.1 minutes 0d 13 minutes

The credit union is now considering adding a third teller (in the form of an M/M/3) with the goal of solving the following argument: arg min $15s + $11E [L,) E(2,3) Recall the term "arg min" or "argument of the minima" gives the solution s such that the function f (s) = $15s + $11E[L4] attains its minimum value. Before solving this problem, what is the utilization p for s=3? (Hint: remember that A and u were given in the opening scenario.) O. 0.67 Ob. 04 Oe 05 Od. 0.33 Considering s, what is the average time (minutes) spent in the system, E[W]? Oa 30.1 minutes Ob. 10.7 minutes Oe 26.1 minutes 0d 13 minutes

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The value of the rice grows according to the function,V=ke2√t, how long should the dealer store the rice.
Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is $30. The cost of holding one unit of inventory for one year is $15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Compute the economic order quantity. Compute the ordering, carrying, and total costs for the EOQ. How much money does using the EOQ policy save the company over the policy of purchasing 4,000 plastic housing units per order?
What is the partial derivative of k3-2/² with respect to k? O2k O 3k² 3k³ O Ок
Please judge whether the following function has the characteristics of CRS, IRS or DRS. F(K, L)=min(2K, 3L) A. DRS B. CRS C. IRS
c) What is the monthly profit or loss if the company stays with Clunker and sells 90,000 bags per month? The monthly profit or loss if the company stays with Clunker and sells 90,000 bags per month is $enter your response here. (Round your response to the nearest dollar and include a minus sign if necessary.)
= 2. The cost of operating a jet-powered commercial (passenger- carrying) airplane varies as the three-halves (3/2) power of its velocity; specifically, Co kny3/2, where n is the trip length in miles, k is a constant of proportionality, and vis velocity in miles per hour. It is known that at 400 miles per hour, the average cost of operation is $300 per mile. The company that owns the aircraft wants to minimize the cost of operation, but that cost must be balanced against the cost of the passengers' time (CC), which has been set at $300,000 per hour. At what velocity should the trip be planned to minimize the total cost, which is the sum of the cost of operating the airplane and the cost of passengers' time?
A retail store estimates that weekly sales s and weekly advertising costs x (both in dollars) are related by s = 30.000 - 20.000 e -0.00025x. The current weekly advertising costs are $4,000, and these costs are increasing at a rate of $600 per week. Find the current rate of change of sales. The current rate of change of sales is $ per week. (Round to the nearest dollar as needed.)
The monthly sales of Sunny Electronics' new sound system are given by q(t) = 2,000t − 50t2 units per month, t months after its introduction. The price Sunny charges is p(t) = 1,000 − t2 dollars per sound system, t months after introduction. Find the rate of change of monthly sales. HINT [See Example 4(a).] q'(t) = Find the rate of change of the price. p'(t) = Find the rate of change of monthly revenue 5 months after the introduction of the sound system. $ per month Interpret your answer. When t = , the revenue is increasing at a rate of $ per month.
The profit associated with the production and sale of a product is the difference between the product's revenue and the cost to produce it. (a) The cost to produce the Rolls-Royce can be estimated at $270 million of fixed costs (factory maintenance, equipment leasing, labor, etc.) plus $110000 per vehicle. Write profit P, in thousands of dollars, as a formula involving the prioe per vehicie, p (in thousands of dollars), and q the quantity of vehicles produced: (b) In 2011, Rols-Royce sold 3538 cars at an average price per vehicie of $200 thousand. Assume that the demand for these vehicies is proportional to the price, p, in thousands of dollars, and write a formula for the quantity of Rolls-Royce vehicles demanded as a function of p. q= D(p) = (c) Use the demand model from part (b) to rewrite your profit formula from part (a) so that P is a function of only p. P(p) = (d) At what price does the model predict break even is attained? thousand dollars Price: (e) What is the value of profit…
The profit function in dollars for a product is given -x^3+76x^2-380x-2800 where x is the number of units produced and sold. If break even occurs when 10 units are produced and sold find a quadratic factor of the profit function and find a number of units other than 10 that gives break even for the product.
(1) If you have been hired at an annual salary of $23,000 and expect to receive annual increases of 5%, what will your salary be when you begin your seventh year? 3x (2) Determine the inverse of the function f(x)= 2x–5 (3) Ladders used by fruit pickers are typically tapered with a wide bottom for stability and a narrow top for ease of picking. If the bottom rung of such a ladder is 49 inches wide and the top rung is 19 inches wide. Stating explicitly the formulae used, determine: (i) How many rungs does the ladder have if each rung is 2.5 inches shorter than the one below it? (ii) How much material would be needed to make the rungs for the ladder described?
Please give me proper calculation and full explanation otherwise i give downvote