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Aleonysh [2.5K]
3 years ago
15

Use the following scenario and data for all questions During lunch time, customers arrive at a postal office at a rate of per ho

ur. The interarrival time of the arrival process can be approximated with an exponential distribution. Customers can be served by the postal office at a rate of per hour. The service time for the customers can also be approximated with an exponential distribution. For each of the following questions, show your work and use the right notation. Determine the utilization factor.
A) rho =4/5
B) rho =5/4
C) rho =2/3
D) rho=45-36=9
E) None of the above.
Determine the probability that the system is idle, i.e., no customer is waiting or being served.
A) rho_0= 4/5
B) rho_0= 5/4
C) rho_0=1/5
D) rho_0= 1/9
E) None of the above
Determine the probability that exactly one customer is in the system, i.e., no customer is waiting but one is served.
A) rho_1=1/9
B) rho_1=2/5
C) rho_1=1/5
D) rho_1=4/25
E) None of the above
Determine the probability that exactly one customer is waiting
A) p_2=2/81
B) p_2=16/125
C) p_2=4/125
D) p_2=4/25
E) None of the above
Determine the expected number of customers in the system including the one being served and the ones waiting in the queue
A) L=4
B) L=16/5
C) L=12/5
D) L=18/5
E) None of the above
Determine the expected length of the queue, i.e., the number of customer waiting in the queue.
A) L_q=4
B) L_q=16/5
C) L_q=12/5
D) L_q=18/5
E) None of the above

Business
1 answer:
ch4aika [34]3 years ago
8 0

Answer:

Check the explanation

Explanation:

The assumptions in single-server queue theory include: -

  1.    Unlimited calling population may enter the queue
  2.    Arrivals occur randomly and are not dependent but average number of arrival does not change.
  3.    Single waiting line and arriving customers are patient customers who can wait in the queue before they can be served regardless of the length of the line.
  4.    Arrivals are serviced on a first come first served basis
  5.    Service time of one customer may vary from that of another customer.

Kindly check the attached images below to see the step by step explanation to the question above

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n an open economy, why is the supply curve for dollars in the foreign-currency exchange market vertical?
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Answer:

In an open economy, the supply curve for dollars in the foreing-currency exhange market is vertical, because the supply does not depend on the exchange currency rate.

The supply of dollars in an open economy depends on the interest rate, which is determined by the difference between imports and exports (which is the same as the difference between purchases and sales of foreign capital).

4 0
3 years ago
Suppose that XYZ Company hires labor and capital in competitive input markets. Assume that labor costs $200 per day and that a u
GuDViN [60]

Answer:

a) Yes, the firm is minimizing the cost of current production. This is because MRPL / w = MRPC / r = 0.20.

b) The long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

Explanation:

a) Given the information provided, is the firm minimizing the cost of current production? Explain why or why not.

The condition for the cost minimization of a firm is as follows:

MRPL / w = MRPC / r ……………………………. (1)

Where:

MRPL = Labor's marginal product = 40

w = Cost of labour = $200

MRPC = Capital's marginal product = 30

r = Cost of capital = 150

Therefore, we have:

MRPL / w = 40 / 200 = 0.20

MRPC / r = 30 / 150 = 0.20

Since MRPL / w = MRPC / r = 0.20, this implies that these conditions are consistent with equation (1). Therefore, the firm is minimizing the cost of current production.

b) If the daily wages were to increase, explain the long run adjustments that the firm would likely make in response to the wage increase.

If the daily wages were to increase, the MRPL / w in equation (1) in part a above will fall and we will have:

MRPL / w < MRPC / r …………………… (2)

Since equation (2) is no longer consistent with equation (1), the firm is NOT minimizing the cost of current production.

Therefore, the long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.

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Answer:

BTW almost everyone ch.ats in the comments, and some people also plagiarize not just that person FYI

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Which of the following is TRUE regarding unexpected expenses?
kaheart [24]

Answer:

They should be planned for.

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Unexpected expenses include emergencies and other unforeseen costs that a person incurs in day to day activities.  These unexpected expenses must be paid for, which means resources must come from somewhere to effect the payments.

The best way to cater to unexpected expenses is to include them in the budget. Contingencies is the term used to describe funds kept aside to settle unexpected expenses. Without a contingency arrangement, unexpected expenses will affect the budget and a person's ability to pay normal bills.

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