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Licemer1 [7]
3 years ago
5

McNeese is determining the staffing level for their credit union located within the university. The beginning of the fall semest

er is their busiest time, with incoming freshmen and transfer students opening accounts. On average, it takes a teller 10 minutes to successfully open an account. Currently, the average arrival rate has been 6 per hour.
Required:
a. Considering the distribution of the service time, what is Pr(ts < 2*E[ts])
b. What is the average service rate.
Business
1 answer:
ad-work [718]3 years ago
7 0

Answer:

Check the explanation

Explanation:

Average Service Rate

Time to complete request from 1 customer – 10 minutes = 10/60 = 0.16

Average time in line

Utilization of employee = Customer arriving in a single line per hour / Number of customer that a teller can serve in our

= 3/6 = 0.5

Average number of customer in line = 3*3/6(6- 3)

                                                               = 9/18= 0.5

Average time in Line = 0.5/ 3 = 0.16 hr

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According to Robert Merton, Anomie occurs when individuals feel social and psychological strain due to a lack of acceptable means for achieving success.

Explanation:

The American sociologist named Robert King Merton. He worked most of his profession at Columbia University where he graduated as a professor of the University.

Anomie is "the state that society gives persons no moral guidance" .

Conflicts between values and social linkages between an individual and the group will contribute to anomia.

Goals can become so relevant that illegal means can be used if the institutionalised means — that is to say, appropriate in compliance to social standards — collapsed. Stronger emphasis on results than means produces a tension that leads to a deterioration of the regulatory structure–that is to say, anomie.

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Which of the following statements is CORRECT? Sole proprietorships are subject to more regulations than corporations. In any typ
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Answer:

Sole proprietorship and partnerships generally have a tax advantage over many corporations, especially large ones.

Explanation:

Corporation face fewer regulations than Sole proprietorship.

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3 years ago
Market structures For each of the following scenarios, determine which market model best describes the scenario. Then identify t
pantera1 [17]

Answer:

Please refer explanation

Explanation:

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1. many

2. differentiated

3. easy

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Monopolistic competition is whereby there are many firms selling similar products and services but are not perfect substitutes. They may be different in quality, design or style. Barriers to entry are low and any one firm’s decision does not necessary affect all others. These firms tend to have limited price setting powers and they make use of heavy adverting and brand differentiation.

B. Hundreds of high school students who require tutoring in algebra choose among dozens of tutoring companies offering similar services.

1. many

2. standard

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Perfect competition is a market structure where there are many firms selling homogenous or commodity products, such as a fruit or vegetable vendor. They do not have the ability to influence the price and they take the price that they receive. There is free flow of information between sellers and buyers regarding the goods sold as well as the prices of goods and services sold. Firms can easily enter and exit the market.

C. Four Internet providers offer similar services to almost everyone in the city. Any new company would have to engage in a price war with the existing companies.

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Oligopoly is an imperfect market structure with a small number of firms who are impacted by each other’s actions. Oligopolies may collide either explicitly or tacitly in order to restrict output or fix prices and achieve above normal market returns. Government policies and regulations are placed to encourage or discourage oligopolistic behavior and ensure that consumers are not exploited.

D. Only one pharmaceutical company has a government patent to sell an experimental drug.

1. one

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A monopoly refers to a single company dominating the market in an industry. It has a proportionately large market share. This can be due to an absence of proper restraints. They have control of the price in the market for that product. There are very large batters to entry and exit, they exploit economies of scale and are able to make abnormal profits in the industry.

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