(Solution) An automatic teller machine (ATM) is being installed at a branch of Metrobank. From the bank's research, it figures to indirectly benefit from... > Snapessays.com


(Solution) An automatic teller machine (ATM) is being installed at a branch of Metrobank. From the bank's research, it figures to indirectly benefit from...


An automatic teller machine (ATM) is being installed at a branch of Metrobank.From the bank’s research, it figures to indirectly benefit from offering thisservice. Estimates are that the bank will generate revenues at the rat eof 1percent of the money passed through the machine in the form of new customeraccounts for checking services, loans, savings accounts and the like. The averagewithdrawal from the ATM is $75, and the bank figures its cost of money to be 10percent per year.Stocking the machine for the two-day weekend is it most difficult planningproblem. From historical records for other ATMs, the bank estimates theaverage number of withdrawals to be 120 with a standard deviation of 20, with anormal distribution. How much money should the bank stock in the machine forthe weekend? (Hint: consider as a single order problem)

 


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This question was answered on: Sep 21, 2023

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