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Alinara [238K]
3 years ago
7

Benny the Barber owns a one-chair shop. At barber college, they told Benny that his customers would exhibit a Poisson arrival di

stribution and that he would provide an exponential service distribution. His market survey data indicate that customers arrive at a rate of 3.0 per hour. It will take Benny an average of 17 minutes to give a haircut. Based on these figures, find the following:a. What is the average number of customers waiting? (Round your answer to 4 decimal places.)b. What is the average time a customer waits? (Round your answer to nearest whole number.)c. What is the average time a customer is in the shop?d. What is the average utilization of Benny's time? (Round your answer to the nearest whole percent.)
Business
1 answer:
Sever21 [200]3 years ago
7 0

Answer:

Below is the solution to the given problem

Explanation:

a. What is the average number of customers waiting?

With one barber and exponential service, this system fits Model 1 in the text. λ = 3.000 per hour (given), μ= 60/17 = 3.529 per hour.

You are looking for Lq here.

Lq = λ^{2} / μ(μ – λ) = 3.00^{2}/3.529 (3.529 – 3.000) =  = 4.82 customers

b. What is the average time a customer waits?

Wq = Lq/λ = 4.82/3.00 = 1.607 hours  = 96.40 minutes  

c. What is the average time a customer is in the shop?

You are looking for Ws here, and need to calculate Ls first.

Ls =    λ / μ(μ – λ) = 3.00/3.529 – 3.000= 5.671

Ws =  Ls/λ = 5.671/3.00 = 1.890 hours  = 113.4 minutes

d. What is the average utilization of Benny's time?

ρ =  λ/μ = 3.00/3.529 = 0.85 = 85.0%

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Answer:

DR Supplies expense $2,800

CR Supplies  $2,800

Explanation:

Opening Balance      $2,100

Add Purchases         $3,500

Total                           $5,600

Closing Balance        $2,800

To determine usage for the month

=Total  supplies - Closing Balance of Supplies

= $5,600 - $2,800

= $2,800

Usage for the month = $2,800

DR Supplies expense $2,800

CR Supplies  $2,800

6 0
3 years ago
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Favorable direct manufacturing labor efficiency variances are​ ________.
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Always credits.

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Peng Company is considering an investment expected to generate an average net income after taxes of $2,000 for three years. The
Sedbober [7]

Answer:

$-7033.54

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow = net income + deprecation

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($45,300  - $7,500) / 3 = $12,600

Cash flow = $12,600 + $2000 = $14,600

Cash flow in year 0 = $-45,300

Cash flow in year 1 =  $14,600

Cash flow in year 2 =  $14,600

Cash flow in year 3 =  $14,600 + $7,500 = $22,100

I = 15%

NPV = $-7033.54

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

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Answer:

Crane Company

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= $440.

Explanation:

a) Data and Calculations:

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1/1/20 inventory      150      $4.00         $600

1/15/20 Purchase,    70         5.10            357

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Total                      240                       $1,328

1/31/20 inventory   110       $4.00         $440 ($4.00 * 110)

b) The LIFO method assumes that goods that are sold first are the last that were purchased.  Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased.  In our case, the cost per unit was based on the beginning inventory balance.

 

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Explanation:

Please find the solution file in the attachment.

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