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Randy needs to decide where to get a haircut. He has narrowed the choice down to two local hair salons - Large Hair Salon (LHS) and Small Hair Cutters (SHC).
A new customer walks into LHS every 15 minutes on average, with a standard deviation of 15 minutes. At SHC, a customer walks in every hour on average, with a standard deviation of 1 hour. LHS has a staff of 4 barbers, while SHC has 1 barber. The average service time at both salons is 30 minutes, with a standard deviation of 30 minutes.
Q1. If Randy walks into SHC, how long, on average, will he wait in line (in minutes) before he receives a haircut? (Only include the waiting time, not any service time)
Except in emergency situations (and even then sometimes!), the legislative and regulatory processes often take months, sometimes years, to accomplish. Why do these processes become so drawn out?
Businesses to continue to succeed must always maintain a competitive advantage in the marketplace. The key to doing this has changed over the last century as is illustrated in our discussion in week one of the 21st century business challenges. Using ..
Between approximately 7:45 p.m. and 9:30 p.m., bartenders at Big Jim’s Tavern served four Long Island Iced Teas to Alan Wickliff. Shortly after leaving Big Jim’s, Wickliff drove his vehicle into a car driven by William Roland Stine, who dies as a res..
Provide a brief summary of the facts and discuss the standards that were used in determining that a breach had occurred. Also discuss whether you agree or disagree with the findings.
Three loan officers are currently employed by Victoria Bank at its Katy Branch. Each of these officers currently work eight hours per day. Each officer processes an average of five loans per day. Compute the labor productivity. Compute the new labor ..
The Friendly Sausage Factory (FSF) can produce hot dogs at a rate of 5,000 per day. How many days does it take to produce the optimal run quantity?
Suppose that you expected the exchange rate in one year to be 1.2 dollars per euro. What is the exchange rate today?
You are the newly hired Vice President of Human Resources for the Bayside Regional Health System. You have the responsibility for all of the usual human resources functions, including retention plans, the training and development function, and the re..
Use of Internet At Work: Policy Proposals Your consulting services have been requested by the CEO of a Fortune 500 company. The CEO is concerned about the use of the internet at work and employs your consulting services to discuss her concerns. Wheth..
How can CanGo continually starting new ventures. In order to move ahead on some of the new ventures that are key to CanGo's future, some of CanGo's ongoing projects and operations will need to be de-emphasized and resources re-directed. What will be ..
You are planning to introduce 3 Lines of products. What positioning strategy you will consider so that the target market should buy the products.
What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 7% of par, and a current market price of (a) $62.00, (b) $87.00, (c) $111.00, and (d) $140.00? Round your answers to two decimal places..
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