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Determine the average time a ticket buyer must wait
Course:- Mathematics
Reference No.:- EM131134876




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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




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