Exhibit 13.1 The Following Questions Are Based on the Output Below

question 60

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.
-A common queue discipline used in practice is

• A) first-in-first-out
• B) random
• C) last-in-first-out
• D) group arrival

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Definitions:

Employment

A situation in which an individual has a paid job.

Production

The process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output).

Opportunity Cost

The detriment of neglecting the next optimal alternative during the process of making a decision.

Opportunity Cost

The benefit that is missed or given up when choosing one alternative over another.