Scenario E.1 SimQuick Is Being Used to Simulate the Following Bank Process

question 38

Multiple Choice

Scenario E.1
SimQuick is being used to simulate the following bank process:

Customer arrivals at the Entrance Door of the bank with an average time between arrivals of 2.5 minutes. The Line Buffer holds 6 customers. If a customer arrives and the buffer line is filled, the customer leaves. The Work Station Teller's processing time per customer is normally distributed, with a mean of 3.0 minutes and a standard deviation of 0.5 minutes. The Served Customer Buffer in the flow chart is used to count the number of customers processed during the period simulated. A 2-hour period was simulated.
The SimQuick simulation is run, and the results are as follows:

-Use the information in Scenario E.1. Approximately how many total customers arrived during the 2-hour period simulated?

• A) 42
• B) 38
• C) 44
• D) 48

Grasp the concept and requirements of tender of delivery in sales contracts.

Identify violations of good faith in sales transactions.

Recognize conditions under which a buyer can inspect goods before payment and the exceptions.

Understand the basic obligations of a buyer under a sales contract according to the UCC.

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Definitions:

Standards of Conduct

A set of guidelines or principles designed to govern behaviors and actions in a professional or organizational environment.

Impropriety

The quality of being inappropriate, unethical, or not conforming to the expected standards of conduct.

Contract Agreement

A legally binding document that describes the terms of a deal or partnership between two or more parties.

Whole Shipment

Refers to the transportation or delivery of an entire cargo or batch of goods at one time, without dividing it into smaller consignments.