Northeast Savings Bank has 5 teller stations at their Oiler Ave. office. They ha
ID: 3034671 • Letter: N
Question
Northeast Savings Bank has 5 teller stations at their Oiler Ave. office. They have hired a management science firm to perform an efficiency study on the use of the teller stations. The efficiency experts determined that the following number of teller stations were busy the given percentage of the time. Use this information to calculate how many teller stations Northeast should expect to be busy.
Percent of time stations are busy Stations Busy 0 1 2 3 4 5 Percent of the time 6% 24% 32% 18% 13% 7%Explanation / Answer
Expected value = 0 * 0.06 + 1 * 0.24 + 2 * 0.32 + 3 * 0.18 + 4 * 0.13 + 5 * 0.07
= 2.29 (ans)
Approximately 2 teller stations Northeast should expect to be busy
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