Exhibit 13.7 The Following Questions Refer to the Information and Output Below

question 4

Short Answer

Exhibit 13.7
The following questions refer to the information and output below.
A tax accountant has found that the time to serve a customer has a mean of 30 minutes (or 0.5 hours) and a standard deviation of 6 minutes (or 0.1 hours). Customer arrivals follow a Poisson distribution with an average of 60 minutes between arrivals. The following queuing analysis spreadsheet was developed from this information.
-Refer to Exhibit 13.7. Based on this report what is the average number of customers waiting to be helped?

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Definitions:

Cost-Push Inflation

Inflation caused by an increase in prices of inputs like labour, raw material, etc., leading to a decrease in the supply of these goods.

Raw Materials

Fundamental materials that are used in the production process to create goods and products.

Prices of Raw Materials

The cost of basic materials used in the manufacture of products, which can affect production costs and pricing strategies.

Fiscal Policy

Government spending and taxation decisions designed to control inflation, reduce unemployment, improve the general welfare of citizens, and encourage economic growth.