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Students arrive randomly at the help desk of the computer lab. There is only one service agent, and the time required for inquiry varies from student to student. Arrival rates have been found to follow the Poisson distribution, and the service times follow the negative exponential distribution. The average arrival rate is 12 students per hour, and the average service rate is 20 students per hour. A student has just entered the system. How long is she expected to stay in the system?
Depreciation
The systematic allocation of the diminution in the value of a tangible asset over its useful life.
General Journal
A comprehensive record of all financial transactions of a company, used to make entries not suited for specific ledgers.
Posting
In accounting, posting refers to the process of transferring entries from the journal into their respective accounts in the ledger, for the purpose of organizing and summarizing financial information.
Journal
A detailed record where all financial transactions of a business are initially recorded before transfer to accounts in the general ledger.
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