Barber College Is the Best Deal in Town! for Only

question 9

Multiple Choice

Barber College is the best deal in town! For only $5, you can get a shampoo and cut by any one of four untrained stylists completed in 7.5 minutes on average. Perhaps this is why customers show up on average two minutes apart (both arrival times and service times are exponentially distributed) . On average, how many customers are waiting in line?

• A)9
• B)11
• C)13
• D)15

---

Definitions:

Capital Gains

The profit earned from the sale of an asset or investment for more than its purchase price.

Interest Income

The revenue earned from lending funds or through investments in interest-bearing financial instruments.

New Brunswick

A province located on the east coast of Canada, known for its forested terrain and maritime industries.

Liquid

Refers to assets that can be easily converted into cash with minimal impact on their value.