Gamma Bank processes a typical loan application in 24 weeks

Gamma Bank processes a typical loan application in 2.4 weeks. Customers fill out 30 loan applications per week. On average how many loan applications are being processed somewhere in the system at Gamma Bank? The answer I get is 12.5. If 30 applications are filled out per week, divided by the average of 2.4 weeks would get 12.5. Just not sure if this correct or not.

Solution

Answer:-

Applications = 30 applications/week

Duration of processing = 2.4 weeks

Applications processed at given time

= 30 applications/week * 2.4 weeks

= 72 applications