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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?
Grantor
The person or legal entity that creates a trust, conveys property, or grants a right.
Existing Mortgage
A mortgage that is currently in place on a property, affecting its sale, transfer, or refinancing.
Mortgagor
An individual or entity who borrows money to purchase property and pledges that property as collateral for the loan.
Oral Agreement
A verbal contract between parties that is legally binding, although harder to prove than a written agreement.
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