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Service time-probability distribution curve
A common example is that service times follow an exponential probability distribution i.e. y=e-x
Service channels - these refer to the number of service points and queues; If there is only one queue, but several service counters, the customer at the head of the queue will move to the first free counter when it becomes available. Where this system operates, there is a basic multiple channel or multi-channel system.
If there are several services counter each with its own queue, there is a more complex multiple channel or multichannel system.
Traffic intensity- this is the ratio of the average arrival rate to the average service rate. Unless a service rate is faster than the rate of new customers arriving in the queue the queue gets longer. An important assumption in queuing theory is that the traffic intensity must be less than one.
BUDGET PROBLEM The Budget Director of Dave, Inc. with the assistance of the Controller, Production Manager and the Sales Manager has gathered the following data for use in develop
State the Working capital turnover ratio Meaning: this ratio establishes a relation ship among net sales and working capital. Working capital turnover ratio shows the vel
Limitation of break even charts Despite many advantages a break even chart suffers from the following limitations: 1) A break even chart is based upon a number of assumption
Why might managers favour this ABC system instead of the older system that allocated all MOH costs on the basis of direct? labour?
Firms need cash to invest in inventory, receivables and fixed assets and to create payments for operating expenses, so as to increase earnings and sales and make sure the smooth ru
State the Opportunity cost The net selling price, rental value or transfer value which could be obtained at a point in time if a particular asset or group of the assets were to
Differnetial cost analysis uses
Right now you are 20 years old and you have decided that you want to have $2,000,000 in the bank when you turn 65 years old. How much must you deposit each year to reach your goal
1) FUTURE CASH FLOWS: Prepare a three (3) year forecast of estimated future cash flows for starbucks and give valid economic/business reasons for your projections. This means you w
Stages of the suggestion system 1) Encouragement : in the first stage management should make every effort to help the workers provide suggestion no matter how primitive for th
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