Determine the average time a ticket buyer must wait

Assignment Help Mathematics
Reference no: EM131134876

1. The owner of the Burger Doodle Restaurant is considering two ways to expand operations: open a drive-up window or serve breakfast. The increase in profits resulting from these proposed expansions depends on whether a competitor opens a franchise down the street. The possible profits from each expansion in operations, given both future competitive situations, are shown in the following payoff table:


Competitor
Decision Open Not Open
Drive-up window $6,000 $20,000
Breakfast 4,000 8,000

Source: Taylor III, B.W. (2013). Introduction to Management Science (11th ed.). Pearson Education, Inc.

Select the best decision, using the given decision criteria.

a. Maximax
b. Maximin

2. Brooke Bentley, a student in business administration, is trying to decide which management science course to take the next quarter-I, II, or III. "Steamboat" Fulton, "Death" Ray, and "Sadistic" Scott are the three management science professors who teach the courses. Brooke does not know who will teach what course. Brooke can expect a different grade in each of the courses, depending on who teaches it next quarter, as shown in the following payoff table:


Professor
Course Fulton Ray Scott
I B D D
II C B F
III F A C

Source: Taylor III, B.W. (2013). Introduction to Management Science (11th ed.). Pearson Education, Inc.

Determine the best course to take next quarter, using the given criteria.

a. Maximax
b. Maximin

3. The ticket booth on the Tech campus is operated by a person who is selling tickets for the annual Tech versus State football game on Saturday. The ticket seller can serve an average of 12 customers per hour; on average, 10 customers arrive to purchase tickets each hour (Poisson distributed). Using the given data, determine:

a. The average time a ticket buyer must wait
b. The portion of time the ticket seller is busy

4. The Dynaco Manufacturing Company produces a particular product in an assembly line operation. One of the machines on the line is a drill press that has a single assembly line feeding into it. A partially completed unit arrives at the press to be worked on every 7.5 minutes, on average. The machine operator can process an average of 10 parts per hour. Using the given data, determine:

a. The average number of parts waiting to be worked on

b. The percentage of time the operator is working

c. The percentage of time the machine is idle

Reference no: EM131134876

Questions Cloud

How this can prevent development of a domestic industry : Suppose that each firm that tries to produce autos must go through the shakedown period of high costs on its own. Under what circumstances would the existence of the initial high costs justify infant industry protection?
Perform your calculations in an excel spreadsheet : Perform your calculations in an Excel spreadsheet. Cut and paste the calculations into your presentation. Include speaker's notes to explain each point in detail. Apply APA standards to citation of sources.
Responsibility involve with managing entrepreneurial venture : The three main responsibilities involved with managing an entrepreneurial venture once its up and runninginclude all of the following EXCEPT:
Why do you think this difference may have emerged : However, India went much further, producing almost everything for itself, while Mexico continued to rely on imports of capital goods. Why do you think this difference may have emerged?
Determine the average time a ticket buyer must wait : The ticket seller can serve an average of 12 customers per hour; on average, 10 customers arrive to purchase tickets each hour (Poisson distributed). Using the given data, determine the average time a ticket buyer must wait and the portion of time..
Explain why in terms of the analysis of appropriability : If the United States had its way, it would demand that Japan spend more money on basic research in science and less on applied research into industrial applications. Explain why in terms of the analysis of appropriability.
What are the weaknesses in those arguments : What arguments would you use? What are the weaknesses in those arguments?
Write the paper using given guidelines : Write the paper using following guidelines/suggestions:-The link between customer satisfaction and profitability - Importance of the (VOC) voice of the customer- Company leadership- Customer lifetime value etc.
Find payback period and the net present value for project : Assume there is no need for additional investment in building the land for the project. The firm's marginal tax rate is 35%, and its cost of capital is 10%. Calculate the payback period (P/B) and the net present value (NPV) for the project.

Reviews

Write a Review

Mathematics Questions & Answers

  Questions on ferris wheel

Prepare a Flexible Budget Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area.

  Logistic map

This assignment has two question related to maths. Questions are related to bifurcation cascade and logistic map.

  Finding the probability of cards

This assignment has questions related to probabiltiy.

  Systems of ode

Find all the xed points, and study their stability and Draw the phase portrait of the system, as well as the graphs of the solutions in all relevant cases.

  Derive the boolean expression

Derive the Boolean Expression and construct the switching circuit for the truth table stated

  System of equations

Evaluate which equations are under-identified, just-identified, and over-identified.

  Linear programming problem

Linear programming problem consisting of only two constraints with one objective function.

  Find the natural domain

Find the natural domain of the given functions.

  Introduction to numerical methods

Compute the coecients of the polynomials using the term recurrence relation.

  Chart of the topological manifold

De?nition of smoothness of functions on a smooth manifold is chart independent and hence geometric.

  Mathematics in computing

Questions related on mathematics in computing.

  Complex problems

Complex problems

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd