Four of the Most Widely Used Waiting Line Models-M/M/1 or A

question 20

Multiple Choice

Four of the most widely used waiting line models-M/M/1 or A, M/M/S or B, M/D/1 or C, and Limited population or D-all share three characteristics, which are

• A) normal arrivals, FIFO discipline, and normal service times
• B) Poisson arrivals, FIFO discipline, and a single-service phase
• C) Poisson arrivals, FIFO discipline, and exponential service times
• D) Poisson arrivals, no queue discipline, and exponential service times
• E) none of these

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Definitions:

Quantity Demanded

The aggregate quantity of a product or service that buyers are prepared to buy at a given price point.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level and at a given time.

Quantity Supplied

Quantity supplied refers to the amount of a good or service that producers are willing and able to sell at a given price over a specific period.

Demand Increased

A situation where the quantity of a product or service desired by buyers rises due to factors like income growth, taste changes, or price decreases of the product or complementary goods.