Consider a Situation Where Service Times Follow an Exponential Distribution

question 94

Multiple Choice

Consider a situation where service times follow an exponential distribution.If the probability of the average service time,t,exceeding the mean is low at 0.368,which of the following is likely to be true?

• A)There are a large number of long service times and a few short ones.
• B)There are a large number of short service times and a few long ones.
• C)There are a large number of balking scenarios and a few jockeying scenarios.
• D)There are a large number of jockeying scenarios and a few balking scenarios.

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Definitions:

Marginal Revenue Product Curve

The marginal revenue product curve illustrates how a firm's revenue changes with the employment of an additional unit of a resource, holding other factors constant.

Product Demand

The quantity of a good or service that consumers are willing and able to purchase at a given price over a specified period of time.

Product Price

The total money demanded to buy a given product or service.

Marginal Product

The extra production achieved through the use of an additional unit of a specific input, while keeping all other inputs unchanged.