Little's Law States That the Average Number of People in a Waiting

question 50

Multiple Choice

Little's law states that the average number of people in a waiting line is the average customer arrival rate multiplied by the:

• A) average time in the system.
• B) average waiting timE.
• C) service time minus the waiting time.
• D) average number in line.
• E) waiting time.

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Definitions:

Raw Materials

Basic materials that are processed or refined to create goods and products in various industries.

Soviet Union

A former federation of Communist republics that was established in 1922 and dissolved in 1991, consisting of Russia and several other countries in Eurasia.

Supply

The aggregate quantity of a product or service that can be bought at any specific price point within a particular market.

Price Signals

Indications to consumers and producers about the scarcity or abundance of a good or service, guiding their economic decisions.