Customers at an Amusement Park Arrive at the Rate of 10

question 59

Multiple Choice

Customers at an amusement park arrive at the rate of 10 customers per hour.The entry booth is staffed by one employee.The mean service time at the booth to provide service to each customer is 5 minutes.The arrival rate follows a Poisson distribution,and the service time at the booth follows a negative exponential distribution.Determine the capacity utilization for the system.

• A)56%
• B)78%
• C)83%
• D)98%

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Definitions:

Corn Future Contract

A standardized legal agreement to buy or sell corn at a predetermined price at a specified time in the future, used as a financial instrument for speculation or hedging.

Spot Price

The current market price at which an asset can be bought or sold for immediate delivery.

Bushel

A unit of volume that is used in agriculture, specifically in the United States, for measuring quantities of grain.

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Long-term government debt securities with a fixed interest rate, considered low-risk investments.