Review Solutions (Q4 and Q5) for Exam 2 (2011F)

Review Solutions (Q4 and Q5) for Exam 2 (2011F) - Question...

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Question 4 Simulation Model of Phone Bank Staffing Staffing Options Cost data Distribution of Call Volume Staff Level Hourly Wages $20 Demand Probability 6 Lost Call Value $6 80 0.10 8 120 0.40 10 Staffing Level 160 0.30 12 #NAME? 200 0.15 14 300 0.05 16 Summary measures for simulation Simulation (800 replications) Call Volume Missed Calls Missed Cost Labor Cost Total Hourly Cost #NAME? #NAME? #NAME? #NAME? #NAME? The correct staffing level to minimize cost according to this simulation is 12 employees.
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Unformatted text preview: Question 5 Simulation Model for Room Reservations Room Cost Data Reserved $100.00 Reservations Extra $160.00 4600 4700 Attendees Mean 5000 4800 Std Dev 400 4900 5000 Reserved 5100 #NAME? Attendees Reserved Cost Total Cost #NAME? #NAME? #NAME? #NAME? #NAME? Extra Rooms Needed Extra Room Cost It varies from simulation to simulation but the best value appears to be about 4700 reservations....
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Review Solutions (Q4 and Q5) for Exam 2 (2011F) - Question...

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