Examlex
Consider a single-line, single-server waiting line system. The arrival rate λ is 80 people per hour, and the service rate μ is 120 people per hour. What is the probability of having 3 or more units in the system?
Variance
The average of the squared differences from the Mean, a statistical measurement of the spread between numbers in a data set.
Computational Formula
A formula used to compute statistical measures that often simplifies the arithmetic process.
Variance
A measure of the dispersion or how spread out numbers are in a dataset.
Interquartile Range
A measure of statistical dispersion, representing the difference between the 25th and 75th percentiles of a dataset.
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