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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 number of customers in queue 2.
Quarterly Profit
The net income a company earns over a three-month period.
Imperial Oil
A Canadian petroleum company involved in the exploration, production, and sale of oil and gas products.
Systematic Risk
The risk inherent to the entire market or market segment, also known as un-diversifiable risk or market risk.
Low-beta Stocks
Stocks with a beta coefficient lower than one, indicating they are less volatile than the market and tend to offer more stable returns.
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