There Is a Tutoring Lab at a University That Holds

question 44

Short Answer

There is a tutoring lab at a university that holds 20 students.Due to the popularity of the 3 tutors, the lab is always at capacity.Each student approaches a tutor an average of 2 times per hour, and a tutor spends on average 5 minutes per question from a student.The service time follows an exponential distribution.
(a)What proportion of the time are the tutors busy?
(b)What is the average waiting time for students in queue?

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Definitions:

Lower-Of-Cost-Or-Market

An accounting principle stating that inventory should be recorded at the lower of its historical cost or its current market price.

LIFO

Last In, First Out, a stock valuation approach that accounts for the most newly manufactured goods as being sold before all others.

Lower-Of-Cost-Or-Market

A rule in accounting that dictates inventory should be recorded at whichever is less between its original purchase cost and its present market value.

LIFO

Last In, First Out, an inventory costing method where the last items added to inventory are the first to be used or sold.