In General,as the Number of Servers in a Waiting Line

question 38

Multiple Choice

In general,as the number of servers in a waiting line system increases,

• A)service cost increases and waiting cost decreases.
• B)service cost decreases and waiting cost increases.
• C)both service cost and waiting cost increase.
• D)both service cost and waiting cost decrease.

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Definitions:

Inflation Rate

The speed at which the overall price level for products and services increases, diminishing the buying power.

Hourly Rate

The amount of money paid or charged for one hour of labor or service.

Compounded Semi-annually

The process of calculating interest on the principal balance and previously earned interest every six months.

GIC

A finance option available in Canada, the Guaranteed Investment Certificate provides investors with a secured rate of return over an established time period.