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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.
-Which of the following is the typical operating characteristic for average time a unit spends waiting for service?
Majority Rule
A decision-making principle where the preferences or decisions supported by more than half of the participants are adopted.
Transitive Preferences
A condition in decision-making where if an individual prefers option A over option B and prefers option B over option C, then the individual also prefers option A over option C.
Median voter theorem
A theory suggesting that the outcome of a majority rule voting system will represent the preferences of the median voter.
Majority rule
A decision-making process where the option that receives more than half of the votes wins.
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