An Automatic Car Wash with a Single Bay Takes a Constant

question 8

Multiple Choice

An automatic car wash with a single bay takes a constant 3 minutes to wash.The arrival rate is 10 cars per hour.Determine the average number of cars waiting in line for the car wash.The arrival rate of cars tends to follow a Poisson distribution.

• A)0.25 cars
• B)0.5 cars
• C)1 car
• D)1.5 cars

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Definitions:

Market Values

The current value of an asset or company based on the prices at which its securities are traded in the market.

Journal Entry

The recording of financial transactions into accounting records, or journals, indicating accounts affected, amounts, and the date.

Special Purpose Machine

A special purpose machine is designed to perform a specific manufacturing or production task and is not versatile for other uses.

Installation Cost

Expenses associated with setting up or installing an asset for use, often capitalized and amortized over the asset's useful life.