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The bank manager of a busy downtown location found herself unable to find good teller help so she invested in an ATM to handle the routine withdrawals that tended to occupy an inordinate amount of the teller's time. Before she installed the ATM she found that customers were arriving on average every 60 seconds (Poisson distributed) and it took a teller 20 seconds (exponentially distributed) to process their request. The ATM is able to maintain a constant 30 second service time. What is the impact on the waiting time for the customers?
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the appropriate period.
Accrued Fees
Accrued Fees refer to charges incurred by an entity for services performed but not yet billed or paid at the reporting date.
Adjusting Entry
An accounting record entry, created at the conclusion of an accounting cycle, that distributes earnings and expenses to their respective years.
Unearned Fees
Income received by a company for services to be provided in the future; recognized as a liability until the services are rendered.
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