Find the expected time a person will spend, Financial Accounting

Assignment Help:

A new shopping mall is considering setting up an information desk staffed by one (1) employee. Based upon information obtained from similar information desks, it is believed that people will arrive at the desk at the rate of fifteen (15) per hour. It takes an average of two (2) minutes to answer a question. It is assumed that arrivals are poisson-distributed and that answer times are negative-exponentially-distributed.

REQUIREMENT:

Find the proportion of the time that the employee will be busy.
Find the average number of people just waiting in line to get some information.
Find the expected time a person will spend just waiting in line to have his/her question(s) answered.

Related Discussions:- Find the expected time a person will spend

What is accounting and book keeping, Question 1 What is accounting and boo...

Question 1 What is accounting and book keeping? Explain the objectives of accounting? Question 2 Explain GAAP and write down the relationship between accounting principles, a

Why convertibles might be an attractive source, Q. Why convertibles might b...

Q. Why convertibles might be an attractive source of finance for companies? - Convertibles is able to provide immediate finance at lower cost since the conversion option effect

Treasury security, The real risk-free rate is 3%. Inflation is usual to be ...

The real risk-free rate is 3%. Inflation is usual to be 3% this year, 4% next year, and then 5% afterthat. The maturity risk premium is estimated to be 0.0007 x (t - 1), where t =

Condition of joint return, Surviving Spouse - This is a person whose wife o...

Surviving Spouse - This is a person whose wife or husband died during tax year. A surviving spouse can file a JOINT RETURN for the year in which death occurred. Additionally a join

Prepare the income statement and balance sheet, Below is the Trial Balance ...

Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011. Previous period's information were as follows: net receivables, $290,000 and inventory, $82

Determine the net present value for the project, An investment project requ...

An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital

Non current asset, what is non-current asset

what is non-current asset

Financial accounting , a. Create a worksheet in your excel file and name it...

a. Create a worksheet in your excel file and name it "Part A Q2". In column A to E set up general journal and input the necessary journal entries to record the transactions and eve

Different powers of investment-trust laws and accounts , Powers of investme...

Powers of investment 1. Shares and debentures: A trustee may: Invest in bearer securities if these would otherwise be authorised; Acquiesce in an amalgamation

Uncertainty of cash flows, Individuals commonly prefer possession of cash i...

Individuals commonly prefer possession of cash immediately or in the present moment quite than the same amount at any time in the future. Such time preference is fundamentally due

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages