Case-Based Critical Thinking Questions Case 19-1 Leon Made a Presentation

question 21

Multiple Choice

Case-Based Critical Thinking Questions Case 19-1 Leon made a presentation about netiquette. His presentation was followed by a very useful discussion. Answer the following questions that the audience asked him. Which of the following is among the most important rules of netiquette?

• A) Distinguish between business and personal
• B) Proofread messages before you send them
• C) Respond promptly
• D) All of the above

Calculate the average number of customers in the system or in the queue based on given arrival and service rates.

Describe the conditions under which a given formula for calculating queue statistics is valid or invalid.

Apply queuing theory to solve real-world problems, such as calculating waiting times in service systems.

Differentiate between continuous and discrete variables with examples.

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Definitions:

Sunk Costs

Expenses that have already been incurred and cannot be recovered or refunded.

Capital Investment

Funds invested in a business or enterprise with the intention of furthering its business objectives.

Capital Budgeting

The process of evaluating and selecting long-term investments compatible with the firm's goal of wealth maximization.

NPV

Short for Net Present Value, which is a financial metric used to evaluate the profitability of an investment or project, considering the time value of money.