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(Solved): In A Finance Firm, There Are 7 Back-end Financial Analysts Serving Requests Of Traders To Perform De ...

In a finance firm, there are 7 back-end financial analysts serving requests of traders to perform detailed financial analysis. On average, the traders send a request to the analysts in every 5 minutes. It takes one analyst half an hour to finish the analysis for a request. Every minute the trader waits for the analysis results costs the company $10,000 because of delay in trading.

a. On average, how many requests are there waiting to be served by the analysts?

b. How long does it take, on average, for a trader to receive detailed analysis for his/her request?

c. On average, what is the hourly cost to the company because of traders awaiting analysis results?

[Each question worth 5 points]

Expert Answer


Average arrival rate, = 1 in 5 minutes = 12 per hour Average service rate, = 1 in 30 minutes = 2 per hour Number of servers, s = 7 (a) Use the followin
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