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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.
Phases of product life cycle The life cycle of a product having of four phases viz., introduction growth maturity decline during introduction phase a product is launched into
JOINT PRODUCT DECISIONS When a manufacturing Company carries out a process operation in which 2 or more joint products are made from a common process a number of decision troub
stetment
Salialailai Ltd manufactures water tanks for different sizes for use by industrial customers. The company uses a job costing system, in which manufacturing overhead is applied on t
Objectives of ratio analysis 1) Measuring the profitability: we can measure the profitability of the business by calculation gross profit net profit expenses ratio and other.
Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
Determine the Need and importance of management accounting: 1.Increasing efficiency: management accounting increases efficiency of business operations. The targets of differe
What are Selling and distribution expenses? Selling and distribution expenses incurred for the marketing of a commodity, for securing orders for the articles, dispatching goods
INTRODUCTION AND RATIONALE The purpose of this assignment is to help students further develop a number of the skills and knowledge required and valued by the accountancy profe
CHOOSING ORDER QUANTITY (SIZE—PROBLEM) The objective of inventory decisions is usually to minimize total inventory costs to the company. Costs are ascribed to all elements whic
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