A Distribution of Service Times at a Waiting Line Indicates

question 57

Multiple Choice

A distribution of service times at a waiting line indicates that service takes 6 minutes 30% of the time, 7 minutes 40% of the time, 8 minutes 20% of the time, and 9 minutes 10% of the time. In preparing this distribution for Monte Carlo analysis, the service time 8 minutes would be represented by the random number range

• A) 20 through 40.
• B) 21 through 40.
• C) 70 through 90.
• D) 71 through 90.
• E) 40 through 70.

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Definitions:

Municipal Bonds

Debt securities issued by a state, municipality, or county to finance its capital expenditures, typically offering tax-free interest payments to investors.

Debt Obligation

A legally binding agreement to repay borrowed money, typically with interest, at predefined dates in the future.

Federal Income Taxation

Federal Income Taxation involves the tax levied by the Internal Revenue Service (IRS) on the annual earnings of individuals, corporations, trusts, and other legal entities in the United States.

Money Market Securities

Short-term financial instruments, typically with high liquidity and low risk, such as Treasury bills and commercial paper.