Use the Scenario Given Below to Answer the Following Question

question 38

Multiple Choice

Use the scenario given below to answer the following question.
Consider the flow process map given below.Assume that orders enter the system with a time between arrivals that is exponentially distributed with a mean of 0.8 minutes.The processing time at work station 1 is exponential with a mean of 0.50 minutes,and at work station 2,it is exponential with a mean of 1 minute.The queue for work station 1 has a capacity of 6,while the queue for work station 2 has a capacity of 4.
Run the simulations for 30 replications of a 24-hour.
-Determine the average time a customer spends in queue 2.

• A)3 minutes 19 seconds
• B)4 minutes 24 seconds
• C)5 minutes 50 seconds
• D)2 minutes 29 seconds

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Definitions:

Repeated Game

A strategic game played multiple times by the same participants, where the outcome of one play can affect the strategies in subsequent plays.

New Products

Items or services introduced to the market that offer novel features, benefits, or improvements over existing options, aiming to meet consumer needs or open new markets.

Oligopoly Pricing

A pricing strategy used by firms in an oligopoly, where a few firms dominate the market, influencing prices through their actions and reactions.

Collusive Pricing Model

is a market situation where businesses agree on setting prices at a certain level to maximize collective profits, reducing competition.