Exhibit 12-1 A Grocery Store Manager Would Like to Use an Analytical

question 13

Essay

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

Recognize the strategic planning process and its phases in different organizational contexts.

Analyze the application of SWOT analysis in personal and organizational assessments.

Understand the application of marketing strategies to personal branding and marketing oneself.

Comprehend the role of strategic questions in the marketing planning process.

---

Definitions:

Surplus

The amount by which the quantity of a good or service supplied exceeds the quantity demanded at a specific price.

Net Investment Income

The total income received from investment assets, such as dividends, interest, and rental income, minus expenses related to the investment.

Americans Invested

Refers to the financial contributions or investments made by individuals or entities based in the United States in various markets or assets.

Foreign Investment

The investment of capital from one country into another country's businesses, projects, or financial markets.