Use the attached to answer the follwoing questions. 1. Assume RentAphone could buy additional phones for $500 a piece. Is it worht buying one additional phone? justify your answer. 2. How would waiting time change if the company decides to limit all rentals to exactly 72 hours? Assume that if such a stetiction is imposed, the number of customers requesting a phone would b reduce to 20 customers per day. Enter the new waiting time in hours.
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Use the attached to answer the follwoing questions.
1. Assume RentAphone could buy additional phones for $500 a piece. Is it worht buying one additional phone? justify your answer.
2. How would waiting time change if the company decides to limit all rentals to exactly 72 hours? Assume that if such a stetiction is imposed, the number of customers requesting a phone would b reduce to 20 customers per day. Enter the new waiting time in hours.
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- During nearly four decades of business operations, Memphis-based FedEx has earned a reputation for reliable, on-time delivery of packages to homes and offices around the country. Founder Fred Smith originally focused on overnight deliveries, choosing Memphis as the company’s headquarters because the airport rarely closes due to bad weather. With FedEx’s planes departing and arriving on schedule nearly all the time, its express shipments usually remained on schedule, then and now. To reassure customers that delivery will take place when and where promised, the firm offers a money-back guarantee on time-sensitive express shipments, among other services. FedEx has steadily expanded its portfolio of services since the 1970s. Its original overnight express delivery is currently available to U.S. customers in various forms, including “first-overnight” delivery, next-morning delivery, next-afternoon delivery, and budget-pleasing two- or three-day delivery. The company’s services also include cost-effective ground delivery for parcels and extra-speedy same-day delivery for urgent deliveries within 1,800 cities. Over the years, FedEx has widened its delivery network to more than 220 countries. It has purchased more cargo jets and acquired specialized shipping firms, including Tiger International, Roberts Express, RPS, and TNT Express, to support global growth. For international business customers needing products, parts, or raw materials shipped across countries or continents, the company now offers time-saving services such as commercial freight forwarding and cross-border logistical support. To add the convenience of local drop-off and pickup points for U.S. consumers and small businesses, FedEx acquired the Kinko’s office services company in 2004 and later rebranded it as FedEx Office. This acquisition also added printing and copying to the menu of services offered. Then the company arranged for large U.S. retailers such as Walgreens, Albertsons, Kroger, and Safeway to accept packages for shipment and receive package delivery for customer pickup in thousands of store locations. This means people who want to send a package can head to a nearby retailer and ship where they shop, rather than making a separate trip to the FedEx location. It’s also a safe alternative for packages to be picked up by people who don’t want FedEx shipments left by the front door. Another service FedEx offers to small and mid-sized businesses, including retailers, is FedEx Fulfillment. The purpose is to expedite order fulfillment by having each business store its products in a FedEx warehouse. Then, when the business’s customers place orders, FedEx puts the products into boxes bearing the business’s own logo and ships directly to those customers. The business doesn’t need a separate warehouse or staff for fulfillment, and packages are on their way to customers more quickly because the products were in FedEx’s warehouse, ready to be packed and shipped. This service puts FedEx into direct competition with Amazon.com, which offers a similar service to merchants that sell through the online Amazon Marketplace. But it also gives businesses that don’t sell via Amazon a fast and professional fulfillment alternative. FedEx is careful to let customers know, through media and social-media announcements, when it anticipates that extreme weather or other conditions will cause delays or force it to halt pickups and deliveries. For the duration of Hurricane Irma, for example, FedEx said it would suspend deliveries in Florida. Some Florida customers who had ordered generators to be delivered via FedEx were unhappy, because they worried about being without power during and after the storm. But one FedEx employee loaded several generator orders into his car and took them to customers himself. When a customer posted a grateful compliment to FedEx on Facebook, the message generated thousands of likes, shares, and positive comments. The company also received positive comments for its donations of cash and transportation services to areas devastated by Hurricanes Irma, Harvey, and Maria. According to the American Customer Satisfaction Index (ACSI), FedEx often tops the list of U.S. shipping companies as ranked by customers surveyed. Every day, the company delivers 13 million packages—and during the busy year-end holiday season, it delivers many more. By meeting customers’ expectations for on-time deliveries, FedEx has increased annual revenues beyond $60 billion and positioned itself for continued growth in the future. How does FedEx’s money-back guarantee address customers’ concerns about heterogeneity?Willow Brook National Bank operates a drive-up teller window that allows customers to complete bank transactions without getting out of their cars. On weekday mornings, arrivals to the drive- up teller window occur at random, with an arrival rate of 30 customers per hour or 0.5 customers per minute. Assume the Poisson probability distribution can be used to describe the arrival process. (a) What is the mean or expected number of customers that will arrive in a six-minute period? (b) Use the arrival rate in part (a) and compute the probabilities that exactly 0, 1, 2, and 3 customers will arrive during a six-minute period. (Round your answers to four decimal places.) X 0 1 2 3 P(x) (c) Delays are expected if more than three customers arrive during any six-minute period. What is the probability that delays will occur? (Round your answer to four decimal places.)Customers arrive at a bank counter at an average rate of 3customers per hour.a) Suggest a suitable distribution to model the number ofcustomers arriving at the counter, X, per minute.b) State clearly any assumptions you have made by suggestingthis model.c) Using your model,I. Find the probability that no customer arrive in a givenminute.II. Find the probability that at most 4 customers arrive in agiven minute.III. In any given 4 minutes period, find ? such that?(? > ?) = 0.0487.IV. Check the answer of part I and part ii using RStudio.
- Provide instead: 3 Positive and 3 negative outcomes for forecasting 3 Positive and 3 negative outcomes for queuing modelWillow Brook National Bank operates a drive-up teller window that allows customers to complete bank transactions without getting out of their cars. On weekday mornings, arrivals to the drive-up teller window occur at random, with an arrival rate of 24 customers per hour or 0.4 customers per minute. What is the mean or expected number of customers that will arrive in a five-minute period?λ = fill in the blank 1 per five minute period Assume that the Poisson probability distribution can be used to describe the arrival process. Use the arrival rate in part (a) and compute the probabilities that exactly 0, 1, 2, and 3 customers will arrive during a five-minute period. If required, round your answers to four decimal places. x P(x) 0 fill in the blank 2 1 fill in the blank 3 2 fill in the blank 4 3 fill in the blank 5 Delays are expected if more than three customers arrive during any five-minute period. What is the probability that delays will occur? If required, round your…The owner of an automobile repair shop studied the waiting times for customers who arrive at the shop for an oil change. The following data with waiting times in minutes were collected over a one-month period. 2 5 22 6 5 0-4 5-9 10-14 (a) Develop a frequency distribution using classes of 0-4, 5-9, 10-14, 15-19, and 20-24. Class 15-19 20-24 Total 5 6 7 15 21 0-4 5-9 10-14 15-19 20-24 Class Total 0-4 5-9 10-14 Class 15-19 0-4 20-24 5-9 (b) Develop a relative frequency distribution using the classes in part (a). If required, round your answers to two decimal places. Relative Frequency 11 4 9 6 Class 16 10-14 15-19 12 21 8 20-24 9 10 Frequency 2 % 10 3 2 3 20 .1 .50 (c) Develop a cumulative frequency distribution using the classes in part (a) .15 .1 .15 1 M ✔ ✔ ✔ S (d) Develop a cumulative relative frequency distribution using the classes in part (a). If required, round your answers to two decimal places. 10 ✔ ✓ ✔ ✔ ✔ Cumulative Frequency Cumulative Relative Frequency X X (e) What…
- Analyze the following queueing management sysytem 1- traffic intensity of 0.3 in queueing system 2- The average time spends in the system =0.036 3-The average number of the customer in the system 0.43Suppose the waiting time at a certain checkout counter is bi-modal. With probability 0.85, the waiting time follows an exponential distribution with a mean waiting time of four minutes. With probability 0.15, the waiting time equals 20 minutes. a) Compute the mean and median waiting time at the checkout counter. b) Compute the variance of the waiting time at the checkout counter. c) Compute the probability that an individual customer waits longer than 5 minutes at the checkout counter.A firm is engaged in both shipping and receiving activities. The management is always interested in improving the efficiency of new innovations in loading and unloading procedures. The arrival distribution of trucks is found to be Poisson with arrival rate of 3 trucks per The service time distribution is exponential with unloading rate of 4 trucks per hour. Determine (i) expected number of trucks in the queue, hour. (ii) expected waiting time of the truck in the queue, (iii) probability that the loading and unloading dock and workers will be idle, (iv) what reductions in waiting time are possible if loading and unloading is standardised?
- The common measures of a queuing system's performance include: O probability that the service facility will be idle, average queue length, and probability that the waiting time will exceed a specified duration. average time each customer spends in the system, probability that the service system will be idle, and average time each customer spends in the queue. average queue length, maximum time a customer may spend in the queue, and the utilization factor for the system. average time each customer spends in the system, maximum queue length, and probability of a specific number of customers in the system. maximum queue length, maximum time a customer may spend in the queue, and average queue length.At the British Grand Prix’s Silverstone Circuit’s 3 July 2022 race, it was another battle royal of sorts as the Formula 1 drivers battled for maximum points in the series. The fans seeking to purchase tickets started arriving from 10:00 am running all through 1:30 pm, when the gates closed in readiness for the race. The fans were observed to arrive at an average of 2,048 each hour, and were being served at a rate of 533 every fourteen minutes. Some fans had already purchased their tickets earlier via the ticket sales agency e-commerce portal. The Silverstone gallery has a 150,000 seating capacity. The gallery was 95% full for this grace. Given the enthusiasm of the fans that were trickling in, this was going to be the race of the month. required; iv). On average, how long does a fan spend in the circuit ticketing system? v). What is the probability of having more than 5 but less than 12 fans in the circuit ticketing system? Determine the efficiency of the Silverstone circuit…given the following: A typical TSA agent at Piedmont Triad International Airport takes approximately 1.15 minutes to screeneach passenger that arrives at the security gate. During the day, a passenger arrives at the gate onaverage every 1.3 minutes. Both the service rate and arrival rate follow a Poisson distribution. Based onthis information and the assumption that only one screening line is open at the security gate, answer thefollowing questions with the given information: a) average number of passengers waiting in line to be screened is 7 b) average amount of time (in minutes) passengers spend waiting in line is .147 minutes c) average amount of time (in minutes) passengers spend in the screening system?.166 minutes 1. What is percent of the time does the typical TSA agent spend actively screening passengers? 2. Throughout the day, passenger arrival rates vary with the greatest number of passengers arriving about 45 minutes before a flight is expected to depart. If during this…