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Table 13-4 A Pawn Shop in Arlington, Texas, Has a Drive-Through Window

question 4

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Table 13-4
A pawn shop in Arlington, Texas, has a drive-through window to better serve customers.The following tables provide information about the time between arrivals and the service times required at the window on a particularly busy day of the week.All times are in minutes.
The first random number generated for arrivals is used to tell when the first customer arrives after opening.
-According to Table 13-4, the time between successive arrivals is 1, 2, 3, or 4 minutes.The store opens at 8:00 a.m., and random numbers are used to generate arrivals and service times.The first random number to generate an arrival is 39, while the first service time is generated by the random number 94.What time would the first customer finish transacting business?

Definitions:

Commercial Paper

An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories, and meeting short-term liabilities.

Corporate Bonds

Long-term debt issued by private corporations typically paying semiannual coupons and returning the face value of the bond at maturity.

Invoice Price

The initial price that the manufacturer suggests the retailer to sell their product for, before any adjustments like discounts or rebates.

Accrued Interest

Interest that has been incurred but not yet paid or received, often relevant in bond investments and loans.