A Single-Phase Waiting-Line System Meets the Assumptions of Constant Service

question 114

Multiple Choice

A single-phase waiting-line system meets the assumptions of constant service time or M/D/1. Units arrive at this system every 12 minutes on average. Service takes a constant 8 minutes. The average length of the queue L_q is approximately

• A) 0.67
• B) 2.5
• C) 4.5
• D) 5.0
• E) 7.5

---

Definitions:

Expansionary Monetary Policy

A form of macroeconomic policy that aims to increase the money supply and typically lower interest rates to stimulate economic growth.

Discount Rate

The rate at which central banks lend to commercial banks or other financial institutions.

Government Securities

Financial instruments issued by the government to finance its expenditures, including bonds, bills, and notes, which are considered low-risk investments.

Required Reserve Ratio

The fraction of deposits that a bank must hold in reserve and cannot lend out, set by the central bank to control the money supply.