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Benny the Barber owns a one-chair shop. At barber college, they told Benny that his customers would exhibit a Poisson arrival distribution and that he would provide an exponential service distribution. Benny the Barber is considering the addition of a second chair. Customers would be selected for a haircut on a FCFS basis from those waiting. Benny has assumed that both barbers would take an average of 6 minutes to give a haircut, and that business would remain unchanged with customers arriving at a rate of ten per hour. Use Exhibit_7.12. a. What is the average number of customers waiting. (Round your answer to 4 decimal places.) Average number of customers b. What is the average time a customer waits in line? (Round your answer to 2 decimal places.) Average waiting time minutes c. What is the average time a customer is in the shop. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Average time minutes
Discount yield is always lower than bond equivalent yield on the same security. Discount yield is always higher than bond equivalent yield on the same security. Discount yield is always equal to bond equivalent yield on the same security. Discount yi..
Which of the following is not an assumption associated with the basic economic order quantity (EOQ) model? the importance of individual carrying costs factors (categories) is generally consistent from product to product. inventory carrying costs cons..
What is the lowest setting in ounces for the filling machine that will provide capability in terms of the six bar box?
What recommendations would you make to Tiffany & Co. management to strengthen the company’s competitive position and future strategic and financial performance? (At least 200 words)
Describe this problem by using a Markov chain and explain why it is a Markov chain? If the machine is in bad condition, it produces 60 tools per day. On the average, how many tools per day are produced?
A company's flexible budget for 16,800 units of production showed sales, $95,760; variable costs, $53,760; and fixed costs, $50,000. The operating income expected if the company produces and sells 77,200 units is:
“Forecasting is difficult. Especially forecasting the future.” – attributed to various sources including Mark Twain and Yogi Berra. The Global Supply Chain Management simulation demonstrated the challenge of deriving a useable demand forecast. Given ..
Do you agree or disagree that "...all economic activity is dependent upon that environment and its underlying resource base ..."? Please include examples with your comments.
Assume a land development company hired an engineer and architecture firm to conduct a feasibility study on a potential land purchase. The report indicated that the land was suitable for development. Later, zoning requests are denied and the land dev..
Think of an organization with which you are fairly familiar, such as your employer or your college or university. Then choose one of the four planning approaches listed below, and write a short essay explaining how the organization could effectively ..
Juhn and Sons Wholesale Fruit Distributors employ one worker whose job is to load fruit on outgoing company trucks. Trucks arrive at the loading gate at an average of 26 per day, or 3.25 per hour, according to a Poisson distribution. The worker loads..
Discuss the role of the interview in candidates' perceptions of fairness in the selection process. What would you predict reactions to be if interviews were eliminated
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