The Owner of an Amusement Park Has Decided to Open

question 96

Multiple Choice

The owner of an amusement park has decided to open a second entry booth and hire another employee to service customers entering the park.Customers arrive at the rate of 20 per hour and will wait in a single line until one of the two employees is available to provide service.The average service time of both employees is 2 minutes to provide service.The arrival rate follows Poisson distribution,and the service time follows a negative exponential distribution.Determine the average time the customer spends in the system.

• A)2.25 minutes
• B)3 minutes
• C)0.25 minutes
• D)1 minute

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Definitions:

Fair Value

An estimate of the market value of an asset or liability based on current market prices or valuations.

Common Stock

A type of equity security that represents ownership in a corporation, usually with voting rights and potential for dividends.

Common Stock

Equity ownership in a corporation, with voting rights and eligibility to receive dividends.

Convertible Bonds

Bonds that can be converted into a predetermined number of a company's shares, typically at the discretion of the bondholder, blending debt and equity investment characteristics.