Little's Flow Equations

question 40

Multiple Choice

Little's flow equations

• A)require Poisson and exponential assumptions.
• B)are applicable to any waiting line model.
• C)require independent calculation of W,L,W_q,and L_q.
• D)All of these are correct.

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Definitions:

Standard Volume

The amount of volume the plant would have generated if each unit of product manufactured used precisely the standard unit of volume allowed.

Budgeted Volume

The amount of production expected to occur during the year, usually stated in terms of a common input measure such as direct labor hours. Budgeted volume can be estimated as expected volume for next year or normal volume over the long run.

Actual Output

The tangible products or results produced by a company's operations or activities.

Total Overhead Variance

The difference between total actual and applied overhead.