In this assignment you are asked to run a simulation with BIMP and the attached process model. Please do the following:(1) Set simulation parameters per the requirements below.Six loan applications per hour.Tasks “Check credit history” and “Check income sources” are performed by clerks.Tasks “Notify rejection”, “Make credit offer” and “Assess application” are performed by credit officers.Task“Receive customer feedback” is in fact an event. It only involves the credit information system (no human actors involved). To capture this, the task is assigned to a special “System” role. It, however, takes on average 10 minutes to received the feedback, which follows a normal distribution with a standard distribution of 2 minutes.There are four clerks and three credit officers. The hourly cost of a clerk is € 25 while that of a credit officer is € 50.Clerks and credit officers work from 9am to 5pm during weekdays.The cycle time of task “Assess application” follows an exponential distribution with a mean of 20 minutes.(2) Take screen shots for the parameter configuration as well as the simulation result. Paste the screen shots on your report.(3) Answer the following question.Compare with the simulation result in lecture note 8. Does the configuration above result in any change to process cycle time and process wait time? If so, in what way?What could have caused the change in your opinion?Submission Method: pdf (report only)Simulator Link :https://bimp.cs.ut.ee/simulator
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