H1 - MS6325 Operations Management Homework Assignment 1 Due in 2nd class on Sept 9 2016 Concept Check 1 A bank finds that the average number of people

H1 - MS6325 Operations Management Homework Assignment 1 Due...

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MS6325: Operations Management Homework Assignment 1 Due in 2 nd class on Sept. 9, 2016 Ø Concept Check 1. A bank finds that the average number of people waiting in line during lunch hour is 10.On average, during this period 2 people per minute leave the bank after receivingservice. On average, how long do bank customers wait in line? [1 point]2. At the drive-through counter of a fast-food outlet, an average of 10 cars waits in line.The manager wants to determine if the length of the line impacts on potential sales. Herstudy reveals that, on average, 2 cars per minute try to enter the drive-through area,but 25% of these cars are dismayed by the long line and simply move on withoutentering the line and placing orders. Assume that no car entering the line leaves withoutservice. On average, how long does a car spend in the drive-through line? [2 point]3. A firm sells $300M worth of goods per year, and the average balance in accountsreceivable is $75M. How long does it take the firm to collect on an accounts receivabledollar, on average? [1 point]
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