What Is the Implied Service Rate at a Bank Teller's

question 84

Essay

What is the implied service rate at a bank teller's window if demand is 26 customers per hour, and the bank staffs 3 tellers with an average utilization of 80%?

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Definitions:

Expense Functions

Mathematical representations that describe the relationship between expenses incurred and the level of activity or volume of operations.

Revenue Functions

Mathematical models that calculate the total revenue generated by selling a certain number of products or services.

Maximum Profit

The highest potential financial gain that can be achieved from an investment or business venture.

Candlestick Chart

A chart, like a stock chart, but with a top line that indicates the high price, and a low line that indicates the low price for a given period; the rectangular region, known as the real body, is displayed in two different colors; the green candlestick indicates that the closing price is greater than the opening price and the red candlestick indicates the closing price is less than the opening price.