Exhibit 13.2 The Following Questions Refer to the Information and Output Below

question 31

Short Answer

Exhibit 13.2
The following questions refer to the information and output below.
A barber shop has one barber who can give 12 haircuts per hour. Customers arrive at a rate of 8 customers per hour. Customer inter-arrival times and service times are exponentially distributed. The following queuing analysis spreadsheet was developed from this information.
-Refer to Exhibit 13.2. Based on this report what percent of the time is the barber busy cutting hair?

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Definitions:

Compounded Monthly

Interest on an investment is calculated and added to the principal every month, increasing the amount of future interest earned.

Mortgage Payments

Regular payments made towards the loan used to purchase property, typically consisting of principal and interest.

Lump Sum

A single payment made at a particular time, as opposed to multiple payments over time.

Compounded Semi-annually

A method where interest is added to the principal of an investment twice per year, accelerating the growth of the investment.