Refer to the Following Data for Jobs Waiting to Be

question 77

Short Answer

Refer to the following data for jobs waiting to be processed at a single work center (jobs are shown in order of arrival):
$$\begin{array} { l c c } \text { Job } & \begin{array} { c } \text { Processing Time } \\( \text { days } )\end{array} & \begin{array} { c } \text { Due Date } \\\text { (days from now) }\end{array} \\\hline \mathrm { A } & 2 & 2 \\\mathrm {~B} & 5 & 6 \\\mathrm { C } & 6 & 10 \\\mathrm { D } & 3 & 4 \\\mathrm { E } & 4 & 8\end{array}$$ What is the average completion time for the first come, first served priority rule schedule? Average job tardiness? Average number of jobs at the center?

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the individual data points differ from the mean.

Expected Rate

The anticipated return on an investment, factoring in the probability of various outcomes, including risks and rewards.

T-bill

Short for Treasury bill, a short-term government security issued at a discount from the par value and pays no interest before maturity, but is redeemed at its face value.

Correlation Coefficient

A numerical measure that describes the size and direction of a relationship between two variables.