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A post office has a single line for customers waiting for the next available postal clerk.There are two postal clerks who work at the same rate.The arrival rate of customers follows a Poisson distribution, while the service time follows an exponential distribution.The average arrival rate is three per minute and the average service rate is two per minute for each of the two clerks.How long does the average person spend waiting for a clerk?
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The recognized monetary unit of the United States, commonly utilized as a standard and reserve money across the globe.
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The practice of hiring third parties to perform services or create goods that were traditionally done in-house, to reduce costs and improve efficiency.
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Exchange rate risk is the potential for investors to experience losses due to changes in the exchange rate between two currencies.
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The exchange of goods, services, and capital across international borders or territories.
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