A Finite Population Waiting Line Model with a Single Server

question 57

Essay

A finite population waiting line model with a single server has an average service time T of 50 minutes and an average time between service requirements U of 350 minutes.Calculate the service factor X.If the population consists of 5 elements,what are the average number waiting,the average number being serviced,and the average number running? Refer to Table D.8.

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Definitions:

Marginal Revenue Product Curve

A graphical representation showing how the additional revenue generated by employing one more unit of a resource varies with the quantity of the resource employed.

Marginal Revenue Product Curve

A graphical representation showing how the revenue generated from selling an additional unit of output changes as more of the output is produced.

Wage Rate

The amount of compensation paid to an employee by an employer for a unit of time worked, which can be expressed per hour, day, or other time unit.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.