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Exhibit 13.1
The following questions are based on the output below.
A store currently operates its service system with 1 operator. Arrivals follow a Poisson distribution and service times are exponentially distributed. The following spreadsheet has been developed for the system.
-A company has recorded the following list of service rates (customers/hour) for one of its servers. What is the mean service time for this server?
Customers / hour: 4, 4, 5, 6, 5, 4, 3, 4, 3, 5, 5, 6
Lease Agreement
A contract outlining the terms under which one party agrees to rent property owned by another party.
Novation
The substitution, by mutual agreement, of another party for one of the original parties to a contract.
Liability
The state of being legally responsible for something, particularly in terms of debts or legal obligations.
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