>> Accounting Basics
Suppose that you observe a sequence of interarrival times, such as 1.2, 3.7, 4.2, 0.5, 8.2, 3.1, 1.7, 4.2, 0.7, 0.3, and 2.0. For example, 4.2 is the time between the arrivals of customers 2 and 3. If you average these, what parameter of the M/M/s model are you estimating? Use these numbers to estimate the arrival rate λ. If instead these numbers were observed service times, what would their average be an estimate of, and what would the corresponding estimate of µ be?