Consider an Espresso Stand with a Single Barista

question 27

Multiple Choice

Consider an espresso stand with a single barista.Customers arrive to the stand at the rate of 28 per hour according to a Poisson distribution.Service times are exponentially distributed with a service rate of 35 customers per hour.The average number of customers in the system i.e. ,waiting and being served) is

• A)4.0
• B)3.8
• C)3.2
• D)2.0

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Definitions:

Quarterly Payments

Quarterly payments are payments made four times a year at regular intervals, often used in the context of dividends, taxes, or loan repayments.

Interest Rate

This refers to the cost of borrowing money or the return earned on an investment, generally expressed as a yearly percentage.

Home Mortgage Loan

A loan used to purchase a residential property, secured by the home itself.

Monthly Payments

Regular payments made over a period, such as for loans or utilities, calculated on a monthly basis.