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Exhibit 12-1
A grocery store manager would like to use an analytical queueing model to study the lines of customers that form in front of the checkout stations in the store. During a period of time when business is steady, several store employees have gathered data on customer interarrival times, which are shown below.
-[Part 2] Refer to Exhibit 12-1.Assuming an exponential distribution with the parameter λ you obtained in Part 1,what is the probability that a customer interarrival time will be less than 2 minutes
National Public Radio
A non-profit media organization that serves as a national syndicator to a network of public radio stations in the United States.
Allocation of Resources
The process by which resources are distributed for the production of goods and services within an economy.
Government Intervention
Regulatory actions taken by a government in order to affect decisions made by individuals, groups, or organizations within its economic systems.
Excludable
A characteristic of a good or service that allows the owner or provider to prevent others from using it without permission.
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