QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 355 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 29 Aug 2017 My Price 11.00

Who should be hired if the objective is to minimize cost per hour?

Question description

 

A Jewelry store is seeking a salesperson for its evening shift. Two experienced applicants have applied for the position, each demanding different salaries. Customers arrive at the rate of 10 per hour. The average service times for each have been made available from their supervisors. the first applicant, Ken, has an average service time of 5 minutes and demands a salary of $10 an hour. The more experienced second applicant, Tom, has average service time of 4 minutes and demands a salary of $18 per hour. Cost of waiting is estimated to be $50 an hour. If arrivals are Poisson distributed and service times are expoential, who should be hired if the objective is to minimize cost per hour?

A.  

 

Ken
B.  

 

Tom
C.  

 

both
D.  

 

neither
E.  

 

none of these

Answers

QuickHelper
(10)
Status NEW Posted 29 Aug 2017 06:08 AM My Price 11.00

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