Marshall has received an inheritance and wants to invest a sum of money today that will yield $4,800 at the end of each of the n
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Answer:
A) Single-server single-phase model (M/M/1).
B) The goal is not met, as the average time waiting for service is 5.56 minutes.
C) The new mean service rate is 7.5 customers/hour.
In this case, the average time waiting for service is 4 minutes, so the goal is met.
Explanation:
A) This situation can be modeled as a single-server single-phase model (M/M/1).
The mean arrival rate is 2.5 customers per hour.
The mean service rate is 6 customers per hour, calculated as:
B) The average waiting time for a customer can be expressed as:
The average waiting time is 5.56 minutes, so it is more than the goal of 5 minutes.
C) If the average time spent per customer to 8 minutes, the mean service rate becomes
An the average waiting time for the service now becomes:
The average time is now 4 minutes, so the goal is achieved.
Answer:
34.04%
Explanation:
Data provided :
Total sales of the Springfield Club = $ 920,000
The net operating income of the company = $ 34,040
The average operating assets of the company = $ 100,000
now,
The return on investment will be calculated as:
Return on investment (ROI)=
on substituting the values, we get
ROI =
or
ROI = 34.04%