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A sandwich shop near a college has a special counter, open from 11 am to 1 pm, which is used exclusively for selling pre-made sandwiches. This is much faster than making sandwiches-to-order at lunch time. The clerk can handle a customer in about one minute. Customers arrive at a rate of 40 per hour on average.
a. How long (in minutes) does a customer have to wait?
b. What percentage of the time is the employee working?
c. What is the average number of customers waiting in line?
d. What is the probability of there being 3 or more customers in the system?
Unamortized Patent
The portion of a patent's purchase cost that has not yet been expensed in the company's financial statements.
Patent Account
An account on the balance sheet that represents the value of patents a company owns, which are intangible assets.
Net Adjustment
Modifications made to the net income or net loss of a company to reconcile with cash flow or other financial statements.
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