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Consider an espresso stand with a single barista. Customers arrive to the stand at the rate of 28 per hour according to a Poisson distribution. Service times are exponentially distributed with a service rate of 35 customers per hour. The probability that the server is busy and a customer will have to wait is
Security Interest
A legal claim or right granted by a debtor to a creditor over the debtor's property, serving as collateral for the repayment of a loan.
Property Interest
A legal right or claim to a property, including ownership rights, use rights, rents, or other benefits deriving from the property.
Collateral
Property or assets pledged as security for repayment of a loan, subject to seizure by the lender in case of default.
Legally Enforceable
A term describing an agreement or contract that is recognized by legal authorities and can be upheld in court.
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