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Randy Fritz has been collecting data at the TU student grill. He has found that, between 5:00 PM and 7:00 PM, students arrive at the grill at a rate of 24 per hour (Poisson distributed) and service time takes an average of 2 minutes (exponential distribution). There is only 1 server, who can work on only 1 order at a time.
a) What is the average number of customers in line?
b) The average time in minutes in the system?
c) Suppose that a second server can be added to team up with the first (and, in effect, act as one faster server). This would reduce the average service time to 90 seconds. The average time in the system in minutes is?
d) Suppose a second server is added and the 2 servers act independently, with each taking an average of 2 minutes. If a second teller is added, what is the average time a customer spends in the system in minutes is?
develope MRP planning schedule, specifying when items are to be ordered and received. There are currently no units of inventory on hand.
Suppose that S = 100, K = 100, r = 0.06, σ = 0.30, δ = 0, and T = 1.Construct a standard two period binomial stock price three using the method in Chapter 10. Consider the stock price average computed by arithmetically averaging the 6-month and 1-yea..
What are the goals for your company/product? Your goals should be in quantitative terms, where possible, to facilitate measuring the company's future performance.
Strategies To Overcome Transportation Infrastructure Challenges
Compare Virtual and Traditional Teams Write an essay on the seven types of virtual teams. Identify the various events or situations that each team type best performs. Compare virtual teams and traditional teams.
Our department store is having a sale on personal computers, of which three are in stock (no rain checks). There is a certain probability of selling none. The probability of selling one is twice as great the probability of selling none. The probabili..
A guest at Raphael's Four-Star Italian Restaurant generally spends $150 on a meal. Most of Raphael's customers are from nearby localities and eat at the restaurant twice a month. If the restaurant's margin is 60 percent, and a loyal customer is estim..
Define the term due diligence. How is it applied to the acquisition of an existing venture? Explain how the price/earnings ratio method of valuation works. Give an example. What are the steps involved in using the discounted earnings method? Give ..
In applying basic ethical principles where should you draw the line between a legitimate business courtesy and a bribe? ?PS: Can flow the book of Ethics and the conduct of business)
Suppose that the economy is thought to be 2% above potential ( that is, output gap is 2%) when potential output grows 4% per year. Suppose also that the Fed is following the Taylor rule
Discuss the role of Dunn as a leader to motivate, empower, create followers, and promote communication, Discuss how Dunn should address cultural diversity within the organization
What building blocks can an organization use to sustain competitive advantage? What does an internal analysis help a company to determine? How does this contribute to the overall health (value creation, competitive advantage, profitability) of the co..
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