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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?
Product Development
The process of conceptualizing, designing, building, and bringing a new product to the market.
Product Strategies
Product strategies involve planning and execution techniques focused on developing, positioning, and selling products in a way that maximizes business success.
Concept Development
Concept development involves the creation and refinement of ideas for products, projects, or strategies, based on research, innovation, and planning.
Private Brand
A brand that is owned by a retailer or a wholesaler rather than the manufacturer of the product, also known as a store or own brand.
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