Question

For the Billy’s Bank situation in Problems 13-24 and 13-25, the salary and benefits for a teller would be $12 per hour. The bank is open 8 hours each day. It has been estimated that the waiting time cost per hour is $25 per hour in the line.

How many customers would enter the bank on a typical day?

Answer 1

Approximately 17 customers would enter the bank on a typical day.

Step-by-step explanation:

To find the number of customers that would enter the bank on a typical day, we need to calculate the total waiting time cost and compare it to the salary and benefits for a teller.

The waiting time cost per hour is $25, and the teller's salary is $12 per hour. Since the bank is open for 8 hours each day, we can multiply the waiting time cost per hour by the number of hours to find the total waiting time cost: $25 x 8 = $200. Then we can divide the total waiting time cost by the teller's salary to find the number of customers that would enter the bank on a typical day: $200 / $12 = 16.67.

Since it is not possible to have a fraction of a customer, we can round up to the nearest whole number. Therefore, approximately 17 customers would enter the bank on a typical day.