A Waiting-Line Problem That Cannot Be Modelled by Standard Distributions

question 8

Essay

A waiting-line problem that cannot be modelled by standard distributions has been simulated. The table below shows the result of a Monte Carlo simulation. (Assume that the simulation began at 8:00 a.m. and there is only one server.) Why do you think this problem does not fit the standard distribution for waiting lines? Explain briefly how a Monte Carlo simulation might work where analytical models cannot.
$$\begin{array} { | c | c | c | c | } \hline \text { Customer Number } & \text { Arrival Time } & \text { Service Time } & \text { Service Ends } \\\hline 1 & 8 : 05 & 2 & 8 : 07 \\\hline 2 & 8 : 06 & 10 & 8 : 17 \\\hline 3 & 8 : 10 & 15 & 8 : 32 \\\hline 4 & 8 : 20 & 12 & 8 : 44 \\\hline 5 & 8 : 30 & 4 & 8 : 48 \\\hline\end{array}$$

Know the appropriate stages and circumstances under which a company should seek specific types of investors.

Understand the regulatory and strategic considerations in making a public offering versus private placements.

Identify the characteristics and motivations of different types of investors such as angel investors, venture capitalists, and mezzanine investors.

Comprehend the importance and roles of informal investors in the funding ecosystem.

---

Definitions:

Labor-force Participation Rate

The labor-force participation rate is the percentage of the working-age population that is engaged in the labor market by either being employed or actively seeking employment.

Adults Employed

The portion of the working-age population that is currently employed in the labor market.

Adults Unemployed

Individuals of working age who are without work, but are available for and seeking employment.

Adults Not in the Labor Force

Individuals over the working age who are neither employed nor actively seeking employment.