For Infinite Source Models,which of the Following Will Equal the Average

question 51

Multiple Choice

For infinite source models,which of the following will equal the average time a customer is in the system?
I.Average number in the system divided by the arrival rate
II.Average number in the system multiplied by the arrival rate
III.Average time in line plus average service time

• A) I only
• B) II only
• C) I and III
• D) II and III
• E) III only

---

Definitions:

Weighted-Average Methods

An inventory costing method that calculates the cost of goods sold and ending inventory based on the average cost of all units available during the period.

First-In, First-Out

An inventory valuation method where the oldest items are sold or used first.

Equivalent Units

A concept in cost accounting used to assess work-in-process inventory by converting partial units into a number of equivalent full units.

Ending Inventory

The worth of merchandise ready for purchase at the close of a financial period, determined by adding purchases to the initial inventory and then subtracting the cost of goods that were sold.