Use This Information to Answer the Following Questions

question 4

Essay

Use this information to answer the following questions.
A small suburban post office is frequented by customers at the rate of 15 per hour.The post office has a single employee who typically processes each customer's request at an average rate of 3 minutes per transaction.Assume that arrival rate follows a Poisson distribution and service time follows an exponential distribution.
-To determine the efficiency of operations,the postmaster wishes to examine several queue operating characteristics.
a.What is the utilization rate of this service system?
b.What is the average number of customers in line?
c.What is the average time that each customer spends in the queue?
d.What is the average time that each customer spends in the queue and being serviced?
e.What is the probability that the post office employee will be idle?

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Definitions:

Authorized Shares

The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and stockholders' equity at a specific point in time.

Stock Split

An action by a company to divide its existing shares into multiple shares to boost the liquidity of the shares, though the overall value of the shares remains the same.

Retained Earnings

Cumulative earnings of a company that are not distributed to the owners and are reinvested in the business.