Exhibit 13.7 The Following Questions Refer to the Information and Output Below

question 36

Short Answer

Exhibit 13.7
The following questions refer to the information and output below.
A tax accountant has found that the time to serve a customer has a mean of 30 minutes (or 0.5 hours) and a standard deviation of 6 minutes (or 0.1 hours). Customer arrivals follow a Poisson distribution with an average of 60 minutes between arrivals. The following queuing analysis spreadsheet was developed from this information.
-Refer to Exhibit 13.7. Based on this report what is the probability that a customer does not have to wait for assistance with his or her taxes?

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Definitions:

Market Testing

The process of evaluating the viability of a new product or service through targeted research with a specific segment of the market.

National Distribution

A distribution strategy that aims to cover an entire country, making products available across all regions.

Environmental Scan

The process of collecting, analyzing, and interpreting data about external influences, trends, and threats that could impact an organization's strategy or operations.

New-Product Strategy Development

The stage of the new-product development process that defines the role for a new product in terms of the firm’s overall objectives.