Waiting Line Case: Polonius National Bank

1429 words - 6 pages

The Case.The goal of this case study was to gain a further understanding and application skills of waiting line analysis. This case analyzed the existing staffing policies for Polonius National Bank (PNB). The goal of the analysis was to determine the optimal number of cashiers that the bank should staff using a waiting line model. Once this optimal number of cashiers was decided upon, it was necessary to determine for what range of goodwill costs the number of cashiers would remain the same.Data.The data was gathered at a particular time when the arrival rates and service time patterns were expected to be consistent on a day to day basis. It was determined that this time was from 9:00 A.M. ...view middle of the document...

This was calculated in a similar fashion as the expected number of arrivals per minute. The probability was calculated by dividing the number of observations for each time interval by the total number of observations. The time intervals 25 second intervals ranging from 0 to 2.5 minutes. Then the product was calculated by multiplying the midpoint time by the probability. The product was summed to give an expected service time of .33 minutes per customer. Translated to minutes the average service rate per channel (μ) was 3 customers per minute. Thus the expected arrival rate and service rate were calculated, allowing for proper analysis of the data.Model selection.Depending on the flow of customers to be serviced (from our infinite customer population), we need to decide on the optimal number of tellers. Since more than 5 customers are arriving per minute, while a teller is able to serve only 3 customers per minute, we reject the single channel models 1 and 2. Model 2 is also rejected because in figure 2 we find that our service pattern is not constant.The waiting line model used in analyzing the data was Model 3, characterized by: multiple channels, infinite source population, Poisson arrival pattern, and exponential service rate. It was assumed that the data matches closely enough to the Poisson and Exponential probabilities for arrival rate of 5.498 and service rate of 3. This comparison is shown in Figures 1 and 2.Figure 1Figure 2Analysis.In order to determine the optimal number of channels, the total cost had to be determined for each number of staffed channels. For channel numbers higher than 1 the following process was used to determine the total cost. The first step was to determine the number of customers in line (nl). This was found using the tables for infinite source population, based on the number of channels. This table is only useful for up to 5 channels. The second step was to calculate total number of customers in the system at any given time (ns) for each number of channels used. This was calculated by adding (nl) to (λ/ μ). From there the total cost of each staffing option was found by calculating the cost of the cashiers per hour ($25 multiplied by the number of tellers) then adding the goodwill cost (multiplying the number of customers in the system by $175). Table 1 shows the calculations for a goodwill cost of...

Other Essays Like Waiting Line Case: Polonius National Bank

Madness and Insanity in Shakespeare's Hamlet - Is Hamlet Mad?

2504 words - 11 pages "melt" in the first line), and wishes that God had not forbade suicides from going to heaven.  This is also the first glimpse of another recurring theme in the play, that of Hamlet's unhealthy obsession with the afterlife.  This is one of the reasons that the ghost of his father has such an effect on him, which is a trigger for all the subsequent events in the play.   Moving on to the fourth scene, the next interesting

Hamlet Madness Essay

2211 words - 9 pages , where he gives his first soliloquy.  He cries:  “O that this too too solid flesh would melt,Thaw, and resolve itself into a dew!  Or that the Everlasting had not fixed His canon ‘gainst self-slaughter!” Macbeth wants his flesh to dissolve into a dew (“solid” contrasting with “melt” in the first line), and wishes that God had not forbade suicides from going to heaven.  This is also the first glimpse of another recurring theme in the play, that of

Term Paper Of Operation Management

3778 words - 16 pages AN OVERVIEW OF SOUTHEAST BANK Southeast Bank Limited, a second generation private Bank, emerged in 1995 amid liberalization of global economies. Currently, its Authorized Capital is Tk.10, 000.00 million and its capital and reserve reached 9,927.16 million as of December 31, 2009. Its vision is to stand out as a premier banking institution in Bangladesh and contribute significantly to the national economy. The Bank, in the meantime

Islamin Financial System

1280 words - 6 pages Services: some respective branch of the bank provides locker service to the customers. By using this service, clients can keep reserve their valuable ornaments, important papers & document of land& property etc. in safe by paying a lump sum service charge to the bank. VISA Card: Card is considering as a new dimension of products resulting from technology development in the banking arena. In line with our affiliation with VISA international for VISA

Privacy Policies Of Bank Of American And UnitedHealth Group

2324 words - 10 pages the bank collects and shares information when one visits its site or those of its affiliates. 2.2 UnitedHealth Group/UnitedHealthcare UnitedHealth Group is a national leader and provider of health care benefits. According to mission statement posted on their corporate website UnitedHealth Group’s mission is to “help people live healthier lives” (UnitedHealth Group, 2011). Being a health plan provider UnitedHealth Group is required to remain

Barclays Bank Case

782 words - 4 pages This case study can be found on page 23 of your core text (Cornelissen, 2008) Case Study 2.2 Barclays Bank (UK): The Importance of Coordinating Marketing Communication And Public Relations Early in 2003, Barclays, a UK-based financial services group, engaged primarily in retail banking, investment banking and investment management, appointed a new advertising agency Battle Bogle Hegarty (BBH). BBH was hired to spearhead a 'more humane' campaign

Investment Banking

1476 words - 6 pages buckled during the financial crisis. The first to fail was The Bear-Stearns Companies, a global investment bank, securities trading and brokerage firm until its collapse and fire sale to JPMorgan Chase in 2008 (for $10 a share, a price far below the 52-week high of $133.2. The Federal Reserve helped smooth the process by giving a $29bn line of credit to JPMorgan in exchange for the promise that JPMorgan would buy Bear-Stearns. This

Technology and Indian Banking Sector

3281 words - 14 pages -10 Real time gross settlement (RTGS): Real time means payment transaction is not subjected to any waiting period. In RTGS the transaction are settled as they are processed. Gross settlement means the transaction is settled on one to one basis without bunching or netting with any other transaction. “RTGS is funds transfer system where transfer of money or securities takes place from one bank to another on a “real time” and on “gross basis”. Once

Kortak Mahindra Bank

5536 words - 23 pages traders, self-employed, low income group individuals, works etc. It offers key features like reduced Average Quarterly Balance (AQB) requirement and enhanced cash deposit limits to suit the seasonality of rural India apart from standard features. • Your Bank launched on-line PIN (for debit and credit card) generation feature through net-banking, mobile banking and IVR. On one end, this feature has provided a huge convenience to customers and on the

Customer Satisfaction On Shahjalal Islami Bank Limited

1668 words - 7 pages , space for waiting room, speed of service and behavior of the bankers.  Attributions for service success and failure: Attributions- the perceived causes of events- influence perceptions of satisfaction as well. For example, if a customer in a bank fails to get the proper service for her own mistake, then she will be satisfied by the service.  Perceptions of equity or fairness: Customer satisfaction is also influenced by perceptions of equity and


1446 words - 6 pages credit. Mr. Roger Wilson, owner and president of the Wilson Lumber Company, was therefore actively looking elsewhere for a new bankingrelationshipwhere he would be able to negotiate a larger loan. Mr. Wilson had recentlybeen introduced by a personal mend to Mr. George Dodge, an officer of a much larger bank:,the Northrop National Bank. The two men had tentatively discussedthe possibility that the Northrop bank:might extend a line of credit to Wilson

Related Papers

Clarkson Lumber Analysis

1061 words - 5 pages The Clarkson Lumber case is about Mr. Clarkson seeking a loan that does not require a personal guarantee. The Northrup National Bank is in the process of investigating the Clarkson Lumber Company to whether or not to extend a line of credit of $750,000. However, Mr. Clarkson was only seeking for fewer amounts; thus, he assumed the line of credit would be an advantage to generate more profits into his company. In addition, The Clarkson Lumber

Free Hamlet Essays: Not Murder, Self Defense In Hamlet

849 words - 4 pages Not Murder, Self Defense in Hamlet   It is said that fall of the Royal family of Denmark, was Prince Hamlets fault. But in truth, Hamlet wasn't responsible for all the deaths. He was simply just avenging his fathers murder, an of Gertrude, Polonius, Rosencrantz, Guildenstern, and Ophelia. If you don't know who you are killing, are you held fully responsible for the murder? In Hamlets case, he promised his father, he would avenge

Case: The Overpaid Bank Tellers Essay

743 words - 3 pages from both bank employees and townspeople alike. For example, in response to a growing number of Spanish-speaking people in the area, he hired Latinos and placed them in critical bank positions. He organized and staffed the city's only agricultural loan center to meet the needs of the area's farmers. In addition, he established the state's first "uniline" system for handling customers waiting in line for a teller. Perhaps more than anything

Business Methods Essay

2579 words - 11 pages case where M/s Satyam Computer Services Limited (M/s SCSL) caused loss to the investors to the tune of Rs.14,162 crore. The company head, Ramalinga Raju and members of his family secured illegal gains to the tune of about Rs.2,743 crore by various tricks. The fraud was perpetrated by inflating the revenue of the company through false sales invoices and showing corresponding gains by forging the bank statements with the connivance of the