Exhibit 13.1 The Following Questions Are Based on the Output Below

question 51

Multiple Choice

Exhibit 13.1
The following questions are based on the output below.
A store currently operates its service system with 1 operator. Arrivals follow a Poisson distribution and service times are exponentially distributed. The following spreadsheet has been developed for the system.
-The service times for a grocery store with one checkout line have a mean of 3 minutes and a standard deviation of 20 seconds. Customer arrivals at the checkout stand follow a Poisson distribution. What type of system is it?

• A) M/G/1
• B) M/D/1
• C) G/M/1
• D) M/M/1

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Definitions:

Absolute Value

The distance of a number from zero on the number line, without considering direction.

Money Income

Refers to the total amount of monetary income received by an individual or household over a certain period of time, including wages, salaries, bonuses, and any other income in cash forms.

Factors of Production

The resources used in the production of goods and services, typically categorized into land, labor, capital, and entrepreneurship.

Entrepreneurial Ability

The skill or talent required to conceptualize new products or services, create businesses, and achieve economic success.