If  = 6 CUSTOMERS/HOUR and  =

question 19

Multiple Choice

If  = 6 CUSTOMERS/HOUR and  = 11 CUSTOMERS/HOUR, in a single server model, find the probability that there will be exactly 1 person in LINE.

• A)0.162
• B)0.297
• C)0.248
• D)0.135

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Definitions:

Hertz

A unit of frequency equal to one cycle per second, used to measure wave frequencies, such as sound waves or electromagnetic waves.

Oligopoly

A market structure characterized by a small number of firms controlling a large portion of the market share, which gives them considerable power to set prices and influence market conditions.

Cartel

An association of manufacturers or suppliers with the purpose of maintaining prices at a high level and restricting competition.

Collusion

An agreement between rival firms to cooperate in a way that increases their profits, often by fixing prices or limiting production.