QuickHelper

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About QuickHelper

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Elementary,High School,College,University,PHD

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Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 363 Weeks Ago, 5 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 25 May 2017 My Price 10.00

A business center wants to lease a fax machine for customers to use, business and finance homework help

Question description

 

A business center wants to lease a fax machine for customers to use. A regular fax machine leases for $18 per hour, and it takes a customer an average of 10 minutes (exponentially distributed) to complete a faxing job. An upgraded fax machine leases for $22 per hour, and it requires an average of 8 minutes to complete a faxing job. Customers arrive at the faxing machine at a rate of 4.2 per hour (Poisson distributed) and a customer’s time is valued at $10.00 per hour. Determine which fax machine the business center should lease to minimize the total cost.

Note: Do hand calculations to answer this question.

Answers

QuickHelper
(10)
Status NEW Posted 25 May 2017 06:05 PM My Price 10.00

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