Exhibit 13.2 The Following Questions Refer to the Information and Output Below

question 63

Short Answer

Exhibit 13.2
The following questions refer to the information and output below.
A barber shop has one barber who can give 12 haircuts per hour. Customers arrive at a rate of 8 customers per hour. Customer inter-arrival times and service times are exponentially distributed. The following queuing analysis spreadsheet was developed from this information.
-Customers arrive at a store randomly, following a Poisson distribution at an average rate of 90 per hour. How many customers arrive per minute, on average?

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Definitions:

Lower of Cost

A principle stating that inventory must be recorded at either its historical cost or market value, whichever is lower.

Market Valuation

The process of determining the current value of a company or an asset in the marketplace.

Constraints

Conditions or limitations within which a system, process, or project must operate.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.