Exhibit 13.1 The Following Questions Are Based on the Output Below

question 73

Multiple Choice

Exhibit 13.1
The following questions are based on the output below.
A store currently operates its service system with 1 operator. Arrivals follow a Poisson distribution and service times are exponentially distributed. The following spreadsheet has been developed for the system.
-Which type of queuing system are you likely to encounter at a Wendy's restaurant?

• A) Single waiting line, single service station.
• B) Multiple waiting lines, single service station.
• C) Single waiting line, multiple service stations.
• D) Multiple waiting lines, multiple service stations.

---

Definitions:

Mispriced

A situation in which a financial instrument is valued incorrectly by the market, often presenting opportunities for investors.

Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.

Representativeness Heuristic

A cognitive bias in which an individual categorizes a situation based on patterns of previous experiences or beliefs about the scenario.

Over-Confidence

A psychological condition where an individual overestimates their knowledge, skill, or importance.