Exhibit 13.1 The Following Questions Are Based on the Output Below

question 30

Multiple Choice

Exhibit 13.1
The following questions are based on the output below.
A store currently operates its service system with 1 operator. Arrivals follow a Poisson distribution and service times are exponentially distributed. The following spreadsheet has been developed for the system.
-An arrival process is memoryless if

• A) the time until the next arrival depends on the time elapsed since the last arrival.
• B) the time until the next arrival is based on the time elapsed since the last arrival.
• C) the time until the next arrival does not depend on the time elapsed since the last arrival.
• D) the time until the next arrival is based on the arrival rate.

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Definitions:

Operating Costs

Expenses associated with the day-to-day operations of a business, including costs of goods sold, payroll, and overhead.

Net Sales

Net Sales is the revenue generated from sales of products or services, after deducting returns, allowances for damaged or missing goods, and discounts.

Book Value Per Share

A measure of a company's equity value as per its financial statements, divided by the number of outstanding shares.

Common Stock

Equity securities that represent ownership in a company, entitling the shareholder to voting rights and a share of the company's profits in the form of dividends.