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Problem :
Describe how managers may use Queuing Models in the decision making process.
Consider there is only one photocopy machine in your organisation. On a typical day, an average of 20 staff per hour arrives at the photocopy room to make copies. The average time required for photocopying is 2 minutes. It is assumed that the service times may be described by the exponential distribution.
Find the following:
(a) the average number of staff in the system;(b) the average time a staff spent in the queue; (c) the average time a staff spent in the system; (d) the probability that the photocopy room is empty.
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You buy a 5 year bond with a 8% coupon rate, a YTM of 8% and a $80,000 face value. What will your annualized holding period return (HPR) on this investment be if you hold the bond
Explain step in location selection
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After a risk workshop has been completed, risk interviews are often completed with subject matter experts. Assess the value of the interviews to identify risk response strategies.
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