Magnus Packard is an underwriter who works at Capital State Financial where heprocesses loans daily. He usually takes an average of 40 minutes to process eachloan or job and can identify how long each one will take based on a few keyindicators within the application. Today, he has five loans that he must process bythe end of the day. Each job is labeled in alphabetical order based on the order inwhich it arrived. For example, A arrived first, and B came in second, etc. (See tablebelow)JobProcessing Time (minutes)AB50 40SPT?CDEF60 30 25 35Q2. Let's say, Magnus' office requires underwriters to follow the shortest-processing-time (SPT) rule. In what order will Magnus complete the jobs withA) A, B, C, D, E, FB) E, D, F, B, A, CC) C, D, E on Day 1 and A, B, F on Day 2D) D, E, F on Day 1 and A, B, C on Day 2E) C, A, B, F, D, Ecome-

SPT or Shortest processing rule is a sequancing model based on the processing time. Here it consider…

Answered: Magnus Packard is an underwriter who…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Lee Beedo, a hip bachelor in Edmond, has a date for Saturday night and finds himself without a thing to wear. Faced with the daunting task of doing enough laundry to fully accessorize during his night out, Lee has sorted his clothes into loads according to fabric and colour. Based on his vast experience doing laundry, Lee knows how long each load will take in both the washer and the dryer. He glances at his watch; it is now 2:00 p.m. and he has to have the last load dry by 8:30 p.m. to be there in time. Help Lee develop a schedule that will enable him to make his date on time and depict that schedule using a Gantt chart. Can he make it and, if so, by how much? Load Wash Time (hrs.) Dry Time (hrs.) Polyesters 0.50 0.75 Leathers 2.00 1.50 Whites 0.75 1.25 Unmentionables 1.00 1.25 Silks 0.50 0.25
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Magnus Packard at Capital State Financial Four questions. Magnus Packard is an underwriter who works at Capital State Financial where he processes loans daily. He usually takes an average of 40 minutes to process each loan or job and can identify how long each one will take based on a few key indicators within the application. Today, he has five loans that he must process by the end of the day. Each job is labeled in alphabetical order based on the order in which it arrived. For example, A arrived first, and B came in second, etc. (See table below) Job Processing Time (minutes) A B 50 40 C D E 60 30 25 F 35 Q1. Magnus' colleague suggests that he work through each job in a first-come- first-served (FCFS) sequence. Why would this not be the best method to use in this situation?
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Levi Landon owns a small lawn care business with three employees. He owns the lawn mowers, rakes, and weed whackers that are housed in a storage area at the back of his home. He currently keeps his records in a spiral-bound book. He has a page for his list of customers, and their information including when he first started to do their garden, and the size of their lawns. He has another section to keep track of payments. Levi usually requires payment on completion of the service, but this rarely happens and he has lost track of who owes him and how much. Levi realizes that he is not as efficient as he could be in his record keeping and asks you to help him to track customer service dates, payments and lawn care revenue. He may want to get a loan to purchase some more equipment. He provides you with his book of customers, and payments and prices of the various lawn sizes. To help Levi with the reporting requirements, you need to work with Customer, Payment, and Prices tables that are…
Levi Landon owns a small lawn care business with three employees. He owns the lawn mowers, rakes, and weed whackers that are housed in a storage area at the back of his home. He currently keeps his records in a spiral-bound book. He has a page for his list of customers, and their information including when he first started to do their garden, and the size of their lawns. He has another section to keep track of payments. Levi usually requires payment on completion of the service, but this rarely happens and he has lost track of who owes him and how much. Levi realizes that he is not as efficient as he could be in his record keeping and asks you to help him to track customer service dates, payments and lawn care revenue. He may want to get a loan to purchase some more equipment. He provides you with his book of customers, and payments and prices of the various lawn sizes. To help Levi with the reporting requirements, you need to work with Customer, Payment, and Prices tables that are…
Levi Landon owns a small lawn care business with three employees. He owns the lawn mowers, rakes, and weed whackers that are housed in a storage area at the back of his home. He currently keeps his records in a spiral-bound book. He has a page for his list of customers, and their information including when he first started to do their garden, and the size of their lawns. He has another section to keep track of payments. Levi usually requires payment on completion of the service, but this rarely happens and he has lost track of who owes him and how much. Levi realizes that he is not as efficient as he could be in his record keeping and asks you to help him to track customer service dates, payments and lawn care revenue. He may want to get a loan to purchase some more equipment. He provides you with his book of customers, and payments and prices of the various lawn sizes. To help Levi with the reporting requirements, you need to work with Customer, Payment, and Prices tables that are…

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