Business Finance Homework Help

1. Queuing Theory Chapter 11, Exercise 3

The hematology lab manager has been receiving complaints that the turnaround time for blood tests is too long. Data from the past month shows that the arrival rate of blood sample to one technician in the lab is 5/hour and the service rate is 6/hour. Use queueing theory and assume that both rates are exponentially distributed and that the lab is at steady state to answer the following questions:

1.What is the capacity utilization of the lab?

2.Average number of blood samples in the lab?

3.Average time that a sample waits in the queue?

4.Average number of blood samples waiting for testing?

5.Average time that a blood sample spends in the lab?

2. Capacity Management Chapter 12, Exercise 1

Two nurses (Mary and Jane) at the Riverview UCC have decided to work part time. They would like to work only two (consecutive) days per week. Because they would be part-time employees, their salary and benefits per nurse day would be reduced to $160 on weekdays and $220 on weekend days. Riverview could hire an additional full-time nurse if needed. (See data and example below). Should Riverview agree to this request? If it does, will it need to hire additional nurses? Assuming that part-time nurses and new hires will take any schedule and that preferences for the remainder of the nurses are the same, what new schedule would you recommend for each nurse?

3. Capacity Management Chapter 12, Exercise 4

A clinic wants to work down its backlog to implement advanced access. The clinic currently has 1,200 booked appointments and sees 100 patients a day. The physician staff have agreed to extend their schedules and can now see 110 patients per day. What is their current backlog, and how many days will it take to reduce it to zero?