Examlex
Use the following information for Ephron Company to compute days' sales in inventory for 2015.
Service Rate
The speed at which a service provider can complete work or deliver services, often measured in customers served per unit of time or tasks completed per day.
Arrival Rate
The frequency at which entities (such as customers, materials, or information) reach a system or service point, often measured in entities per time unit.
Queue Discipline
Describes the rule or set of rules used to prioritize and manage elements in a queue, determining the order in which they are serviced.
M/M/1
A model in queueing theory representing a system with a single server where arrivals and service times are Poisson distributed.
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