Cars Arrive at a Local JLUBE Franchise at the Rate

question 47

Multiple Choice

Cars arrive at a local JLUBE franchise at the rate of 1 every 12 minutes.Service times are exponentially distributed with an average of 15 minutes.Jack Burns,the JLUBE owner,has decided to open a second work bay,i.e. ,make the shop into a two-channel system.Under this new scheme,the average customer will wait in line

• A)approximately 9.6 minutes.
• B)approximately 2.5 minutes.
• C)approximately 24.6 minutes.
• D)approximately 2.1 minutes.
• E)None of the above

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Definitions:

Accounts Receivable

The money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Accounts Payable

The amount a company owes to suppliers or vendors for goods or services received but not yet paid for.

Common Stock

Equity securities that represent ownership interests in a corporation, providing voting rights and potential dividends to shareholders.

Recording Process

The systematic method of documenting business transactions in the accounting records in a chronological order.