In the Basic Queuing Model (M/M/1), Service Times Are Described

question 61

Multiple Choice

In the basic queuing model (M/M/1) , service times are described by

• A) binomial probability distributions
• B) negative exponential probability distributions
• C) Poisson probability distributions
• D) normal probability distributions
• E) lognormal distributions

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Definitions:

Domestic Market

The availability and need for products and services inside the boundaries of a nation.

Surplus

A situation where the quantity of a product or resource exceeds the quantity demanded or utilized.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting additional benefit to producers.

Tariff

A tariff is a tax imposed by a government on imported or exported goods, often used to protect domestic industries or to generate revenue.