Thanks to a Generous and Eccentric Donor, the School of Business

question 62

Multiple Choice

Thanks to a generous and eccentric donor, the school of business has 3 fax machines.The toner in each machine needs to be changed after about 5 hours of use.There is one unit secretary who is responsible for the fax machine maintenance.It takes him 15 minutes to replace the toner cartridge.What is the average waiting time in the queue?

• A).0142 hour
• B).1563 hour
• C).0249 hour
• D).2749 hour

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Definitions:

Misdirected Payment

Misdirected payment occurs when a payment is sent to an incorrect party or destination, either due to error or misunderstanding.

Bankruptcy

A lawful method that enables individuals or enterprises in financial distress to pursue exemption from part or all of their financial liabilities.

Shelter Principle

A legal concept in property law that allows a person who purchases goods from a non-owner to acquire valid title under certain conditions, provided the seller had derivative authority to sell.

Holder-In-Due-Course Doctrine

A principle in commercial law that protects a purchaser of a negotiable instrument who takes it for value, in good faith, and without notice of any defect.