Refer to the Bank Process Model

question 9

Essay

Refer to the bank process model. The bank's process improvement group has developed a number of process and technology changes that will improve the Teller's process rate per customer from a mean of 3.0 minutes to 2.5 minutes (standard deviation remains at 0.5 minutes). The Bank Manager wants to determine if the improved process rate, along with the special promotion for new customers, will allow the "arrive and immediately leave" rate and average customer wait time in line achieved to still be met (12% balk rate, 9.95 minutes in line). If so, the manager will implement the process and technology changes and allow the special promotion to proceed. Using SimQuick, estimate the new arrive and immediately leave rate and average time in line. What decision should the manager make?

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Definitions:

Board of Directors

A group of individuals elected to represent shareholders and govern the corporation's affairs and decision-making processes.

General Partnership

A business structure where two or more individuals own and operate a business together, sharing all profits, losses, and liabilities equally, unless otherwise agreed.

Formalities

Specific procedures or ceremonial acts legally required to validate contracts, documents, or other legal actions.

Purported Partners

Individuals who appear to or claim to be partners in a business to the public, regardless of the legality of their partnership status.