If Arrivals Occur at a Mean Rate of 1

question 26

Multiple Choice

If arrivals occur at a mean rate of 1.6 events per minute, the exponential probability of waiting less than 1 minute for the next arrival is:

• A).2019.
• B).7104.
• C).8812.
• D).7981.

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Definitions:

Barriers To Entry

Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.

Financial Resources

Monetary assets or capital available to an individual, organization, or country for spending, investing, or saving.

Competitive Advantage

The attribute that allows an organization to outperform its rivals in the market, leading to greater sales or margins and/or retaining more customers.

Strategic Intent

The focus on and application of organizational energies on a unifying and compelling goal.