Find the average number of customers waiting for haircuts

Assignment Help Financial Management
Reference no: EM13978882

1. Customers arrive at Paul Harrold's Styling Shop at a rate of 3 per hour, distributed in a Poisson fashion. Paul can perform haircuts at a rate of 5 per hour, distributed exponentially.

a) Find the average number of customers waiting for haircuts.
b) Find the average number of customers in the shop.
c) Find the average time a customer waits until it is his or her turn.
d) Find the average time a customer spends in the shop.
e) Find the percentage of time that Paul is busy. "

Reference no: EM13978882

Questions Cloud

What conclusions can you reach about the sources : What conclusions can you reach about the sources of green power?
Identify a number of key images in the poem : Identify a number of key images in the poem which you believe are vital to understanding it and provide a detailed discussion of how those images function in the poem
Call option contract : A trader buys a 3-month call option contract on 100 shares of a stock with strike price $40. Which of the following statement is correct if the options are held until the end?
Brief reflection concerning the areas of course : Please post a brief reflection concerning the areas of this course you found most useful, especially related to your personal life, and if you are working, in your job as an accountant, auditor, or other employment role.
Find the average number of customers waiting for haircuts : Customers arrive at Paul Harrold's Styling Shop at a rate of 3 per hour, distributed in a Poisson fashion. Paul can perform haircuts at a rate of 5 per hour, distributed exponentially.
What is the traders profit if the stock price : A trader sells a 2-month call option contract on 100 shares of a stock with strike price $50. The price of the option is $5. Suppose the options are held until the end. What is the trader’s profit if the stock price is $58 then?
How might being a minority influence your behavior at work : The purpose of this assignment is to provide you with an experience where you are in the minority, preferably going further where you are the only one of your "kind" in a given situation. How might being a minority influence your behavior at work
What is evsi : For $10,000 Lark can hire a consultant who will predict who will win the trial. The consultant is correct 90% of the time. Should she hire the consultant? (Assume she is risk neutral). What is EVSI?
What are specific people risks for a manufacturing company : What are specific people risks for a manufacturing company? What are specific financial risks for a manufacturing company? What are specific operational risks for a manufacturing company

Reviews

Write a Review

Financial Management Questions & Answers

  Calculate his total cash flow and rate of return

ABC Co. and XYZ Co. are identical firms in all respects except for their capital structure. ABC is all equity financed with $575,000 in stock. XYZ uses both stock and perpetual debt; its stock is worth $287,500 and the interest rate on its debt is 8...

  How might managed earning threaten the credibility

How might managed earning threaten the credibility of the U.S. financial reporting system? If it is harmful should be get rid of managed earning? Why is it important to manage earnings?

  What is the probability that your money will triple in value

Assume the returns from holding small-company stocks are normally distributed. Also assume the average annual return for holding the small-company stocks for a period of time was 16.5 percent and the standard deviation of those stocks for the period ..

  Calculate the NPV for both conveyor belt systems

Lang Industrial Systems Company (LISC) is trying to decide between two different conveyor belt systems. System A costs $240,000, has a four-year life, and requires $75,000 in pretax annual operating costs. System B costs $340,000, has a six-year life..

  What is the weighted average cost of capital for ampex

What is the weighted average cost of capital for Ampex - Show how the events change the discount rate applicable to an expansion of an existing restaurant chain.

  Preparing a vacation to Europe in the future

You are preparing a vacation to Europe in the future. You plan to save $400 a month beginning today, and estimate you earn 1% per month on your savings. Your goal is to save $5,000. How long it take to save this amount?

  The modigliani-miller proposition

The Modigliani-Miller Proposition I without taxes states:

  The accumulated sum of the following stream of payments

What is the accumulated sum of the following stream of payments? $21,509 every year at the beginning of the year for 15 years, at 7.84 percent compounded annually.

  Increase in the expected inflation rate

Suppose Baa-rated bonds currently yield 8.4%, while Aa-rated bonds yield 6.4%. Now suppose that due to an increase in the expected inflation rate, the yields on both bonds increase by 1.5%. What would happen to the confidence index?

  What is the future value of these cash flows

If the discount rate is 6 percent, what is the future value of these cash flows in Year 4? What is the future value at an interest rate of 14 percent?  What is the future value at an interest rate of 21 percent?

  Calculate the PB period-Discounted PB and IRR

The Postal Service has just awarded Steve an additional contract that will require Steve to purchase six new tractors. He competed aggressively for the contract and spent a total of $45,000 in costs to prepare and submit the bid. Steve has narrowed h..

  What was the average real return on crash-n-burns stock

You’ve observed the following returns on Crash-n-Burn Computer’s stock over the past five years: 6 percent, -9 percent, 23 percent, 19 percent, and 14 percent. The average inflation rate over this period was 3.5 percent and the average T-bill rate wa..

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