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A hospital needs to determine how many nurses to hire to cover a 24 hour period. The nurses must work 8 consecutive hours but can start work at the start of 6 different shifts. They are paid different wages depending on when they start their shifts. The number of nurses required per 4-hour time period and their wages are shown in the following table.
What are the key formulas for this Excel spreadsheet implementation of the following formulation?
Let mumber of nurses warking in thme period
Probability
The likelihood or chance of an event occurring.
Sample Size
The number of observations or data points that are selected from a population for the purposes of statistical analysis.
Sample Size
The number of observations or data points collected in a sample for the purpose of analysis.
Population Standard Deviation
A measure of the variation or dispersion of all values in an entire population.
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