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My name is Ann [436]
3 years ago
15

The new Fore and Aft Marina is to be located on the Ohio River near Madison, Indiana. Assume that Fore and Aft decides to build

a docking facility where one boat at a time can stop for gas and servicing. Assume that arrivals follow a Poisson probability distribution, with an arrival rate of 6 boats per hour, and that service times follow an exponential probability distribution, with a service rate of 10 boats per hour. The manager of the Fore and Aft Marina wants to investigate the possibility of enlarging the docking facility so that two boats can stop for gas and servicing simultaneously. find P0 Lq Wq W
Business
1 answer:
Nataly [62]3 years ago
4 0

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, \lambda= 6 boats per hour.

Service rate, \mu= 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)))]\} = 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

= [\{6 \times 10 \times(6 / 10) 2\} /\{(2-1) ! \times((2 \times 10)-6) 2\}] \times 0.5385 = 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.

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Consider a firm with only one variable input, labor. Firm output is zero when labor is zero. When the firm hires 6 workers the f
Charra [1.4K]

Answer:

$0.808

Explanation:

Given:

Number of workers hired = 6

Number of units to be produced = 90

Fixed cost of the product = $6 per unit

Variable cost = $10 per unit

Marginal product of the 7th unit of labor = 4

Now,

Total variable cost = Variable cost per unit labor × Total labor hired

or

The total variable cost = $10 × 7 = $70

Thus,

The total cost = Fixed cost + Total variable cost

or

The total cost = $6 + $70 = $76

Now,

the total units produced

= Unit produced by 6 labor + marginal product from seventh labor

or

The total units produced = 90 + 4 = 94

Hence,

the average variable cost of production when the firm hires 7 workers

= \frac{\textup{Total cost of production}}{\textup{Total units produced}}

or

= \frac{76}{94}

= $0.808

6 0
3 years ago
Read 2 more answers
In the circular flow of income, Keynesian equilibrium obtains when a) All the individual sectors are in equilibrium: S=I, T=G, M
olga nikolaevna [1]

Answer:

The answer is B:

The aggregate injections equal aggregate withdrawals S+T+M = I+G+X.

Explanation:

In the circular flow of income, Keynesian equilibrium obtains when The aggregate injections equal aggregate withdrawals S+T+M = I+G+X.

Where S = Saving

T = Taxes

Imports = (M)

I = Investments

G = Government spending

X = Exports

An equilibrium is approached when there is a balance between the savings, taxes and imports and investments, government spendings and exports.

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3 years ago
The stock in Up-Towne Movers is selling for $48.20 per share. Investors have a required return of 11.2 percent and expect the di
Keith_Richards [23]

Answer:

The dividend the company just paid is $3.53

Explanation:

The solution to the problem is given as follows.

$48.20 = D1/(.1120 − .0360)

$48.20= D1(0.076)

Making D1 the subject of formula we have.

D1 = $3.66

D0 = $3.66/(1 + .0360)

D0 = $3.53

6 0
3 years ago
Read 2 more answers
Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan.1 Inventory 26 units at
Mila [183]

Answer:

a. $26,400

b. $20,520

c. $24,140.64

Explanation:

a. The computation of inventory cost by the first-in, first-out method is shown below:-

Inventory cost under first-in, first-out method = Number of units × Unit cost of 3rd purchase

= 48 × $550

= $26,400

b. The computation of inventory cost by the last-in, first-out method is shown below:-

Inventory cost by Last in first out method = (Jan 1 units × Jan 1 Inventory per unit) + (Number of units - Jan 1 units) × Feb. 19 Inventory per unit

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c. The computation of inventory cost by the average cost method is shown below:-

Average cost per unit = (26 × $400) + (57 × $460) + (62 × $540) + (60 × $550)

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= $103,100 ÷ 205

= $502.93

Inventory cost under average cost method = Per unit cost × Number of units

= 48 × $502.93

= $24,140.64

Therefore we have applied the formulas.

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3 years ago
In the 1990s, the technology revolution caused the wide-spread use of information technology in all areas of production, thus im
OverLord2011 [107]

Answer: The aggregate supply curve would shift rightward.

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3 years ago
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