The Manager of a Branch Bank Wants to Build a Simulation

question 6

Multiple Choice

The manager of a branch bank wants to build a simulation model of the lobby operation to reduce the waiting time of her customers. The number of customers waiting in line at any point of time is an example of a(n) :

• A) decision variable.
• B) dependent variable.
• C) uncontrollable variable.
• D) time-compressed variable.

---

Definitions:

Wholesale Funds Transfer

The process of transferring large amounts of funds from one institution to another, usually facilitated through electronic systems.

Payment Order

A written instruction to a bank or financial institution authorizing the transfer of a specific amount of money from one account to another.

Receiving Bank

A bank that receives transferred funds in a transaction, often in the context of wire transfers or other electronic payments.

Electronic Funds Transfer Act

A U.S. law that protects consumers engaging in electronic transfers, including ATM withdrawals, direct deposits, and transfers initiated through debit card transactions.