Po = 0.5385, Lq = 0.0593 boats, Wq = 0.5930 minutes, W = 6.5930 minutes.
<u>Explanation:</u>
The problem is that of Multiple-server Queuing Model.
Number of servers, M = 2.
Arrival rate, 
= 6 boats per hour.
Service rate, 
= 10 boats per hour.
Probability of zero boats in the system,![\mathrm{PO}=1 /\{[(1 / 0 !) \times(6 / 10) 0+(1 / 1 !) \times(6 / 10) 1]+[(6 / 10) 2 /(2 ! \times(1-(6 /(2 \times 10)))]\}](https://tex.z-dn.net/?f=%5Cmathrm%7BPO%7D%3D1%20%2F%5C%7B%5B%281%20%2F%200%20%21%29%20%5Ctimes%286%20%2F%2010%29%200%2B%281%20%2F%201%20%21%29%20%5Ctimes%286%20%2F%2010%29%201%5D%2B%5B%286%20%2F%2010%29%202%20%2F%282%20%21%20%5Ctimes%281-%286%20%2F%282%20%5Ctimes%2010%29%29%29%5D%5C%7D)
= 0.5385
<u>Average number of boats waiting in line for service:</u>
Lq =![[\lambda.\mu.( \lambda / \mu )M / {(M – 1)! (M. \mu – \lambda )2}] x P0](https://tex.z-dn.net/?f=%5B%5Clambda.%5Cmu.%28%20%5Clambda%20%2F%20%5Cmu%20%29M%20%2F%20%7B%28M%20%E2%80%93%201%29%21%20%28M.%20%5Cmu%20%E2%80%93%20%5Clambda%20%292%7D%5D%20x%20P0)
= ![[\{6 \times 10 \times(6 / 10) 2\} /\{(2-1) ! \times((2 \times 10)-6) 2\}] \times 0.5385](https://tex.z-dn.net/?f=%5B%5C%7B6%20%5Ctimes%2010%20%5Ctimes%286%20%2F%2010%29%202%5C%7D%20%2F%5C%7B%282-1%29%20%21%20%5Ctimes%28%282%20%5Ctimes%2010%29-6%29%202%5C%7D%5D%20%5Ctimes%200.5385)
= 0.0593 boats.
The average time a boat will spend waiting for service, Wq = 0.0593 divide by 6 = 0.009883 hours = 0.5930 minutes.
The average time a boat will spend at the dock, W = 0.009883 plus (1 divide 10) = 0.109883 hours = 6.5930 minutes.
Answer:
The potential of additional regional currencies such as the euro is very important, and for this reason, many economists support the idea. In fact, John Maynard Keynes, one of the most influential economists in history, once proposed not a regional common currency, but a common global currency.
The potential lies in the fact that regional currencies allow to coordinate a common monetary policy in several countries. This common policy means that several countries now have the same interest rates, the same rate of inflation, and the same currency itself, and all these commonalities facilitate the exchange of goods and services.
While the Euro has had drawbacks since its inception, the Euro has survived, and is now one of the strongest curriencies in the world.
If you support the concept, should those currencies be tied to regional economic blocs?
I support the concept, and I agree that they should be tied to regional economic bloc. It would not be very effective to adopt a common currency for countries that are not economically integrated in other areas.
Answer:
The plant would have to work 8.33 hours
Explanation:
Initial productivity:
100 parts were produced in 1 hour
Percentage increase in productivity = 20%
New productivity:
100 + (100 × 0.2) = 100 + 20 = 120
120 parts would be produced in 1 hour
Number of hours the plant would have to work to produce 1000 parts = 1000/120 = 8.33 hours
Answer: Consumer share risk with company.
Explanation:
Insurance involves the sharing of risk between a client and his insurer. In insurance the insurer takes a large portion of the risk while the client covers the rest of risk payment.
