Customers Arrive at a Common Queue at the Coffee Station

question 74

Multiple Choice

Customers arrive at a common queue at the coffee station with two identical coffee machines in a busy mall at the rate of 48 per hour, following Poisson distribution. Each customer mixes his or her specialty coffee taking 2 minutes on an average following an exponential process. What is the expected number of customers in the system at this coffee station?

• A) Infinity
• B) 2.844
• C) 2.444
• D) 4.444
• E) 3

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Definitions:

Expected Inflation

Expected inflation is the rate at which the general price level of goods and services is anticipated to rise over a specific period.

Unemployment Rate

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.

Friedman-Phelps

An economic theory associated with Milton Friedman and Edmund Phelps, focusing on the natural rate of unemployment and the relationship between inflation and unemployment.

Actual Inflation

The real rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.