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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 line (in minutes)?
Entrepreneurship
The process of designing, launching, and running a new business, typically starting as a small business, such as a startup, and aiming to achieve growth and profit.
Deontological Theory
An ethical philosophy that evaluates actions as right or wrong based on adherence to rules, duties, or moral principles, regardless of the consequences.
Decisions
Resolutions or conclusions reached after consideration or deliberation by individuals, groups, or organizations.
Action
The process or state of acting or being active; a deed or movement.
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