Consider a Single-Line, Single-Server Waiting Line System

question 49

Short Answer

Consider a single-line, single-server waiting line system. Suppose that customers arrive according to a Poisson distribution at an average rate of 50 per hour, and the average (exponentially distributed) service time is 45 seconds per customer. What is the average time spent in the system (in minutes)?

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Definitions:

Substitute Goods

Products or services that can be used in place of each other because they fulfill similar needs or desires, often influencing the demand and price of goods.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in consumers' income.

Normal Good

A type of good for which demand increases as the income of consumers increases, showing a positive relationship between income and demand.

Sellers

Individuals or entities that offer goods or services for sale in the market.