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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 much time did the average customer who entered the system spend waiting in line?
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A subgroup of a board of directors that is responsible for setting and guiding policies related to executive and employee compensation.
CEO's Compensation
The payment and benefits package provided to the Chief Executive Officer, reflecting responsibilities and aiming to incentivize performance.
Business Performance
A measure of the efficiency, effectiveness, and sustainability of a business in achieving its goals, often evaluated in terms of profitability, revenue growth, and market share.
Compensation-Level Strategy
An approach to determine the relative pay levels and benefits within an organization to stay competitive in the job market and retain employees.
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