Assume That Order Prep Time Is Based on the Following

question 39

Essay

Assume that order prep time is based on the following distribution:
$$\begin{array} { | c | c | } \hline \text { Prep Time } & \text { Probability } \\\hline 3 & .10 \\\hline 4 & .20 \\\hline 5 & .25 \\\hline 6 & .20 \\\hline 7 & .15 \\\hline 8 & .10 \\\hline\end{array}$$
Complete the following table given that the random numbers for order prep time for customers 3, 4, and 5 are 62, 93, and 26, respectively.
$$\begin{array} { | c | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Arrival } \\\text { Number }\end{array} & \begin{array} { c } \text { Time of } \\\text { Arrival }\end{array} & \begin{array} { c } \text { Time } \\\text { Order } \\\text { Taken }\end{array} & \begin{array} { c } \text { Order } \\\text { Prep } \\\text { Time }\end{array} & \begin{array} { c } \text { Customer } \\\text { Receives } \\\text { Food }\end{array} & \begin{array} { c } \text { Customer } \\\text { Wait } \\\text { Time }\end{array} & \begin{array} { c } \text { Cook } \\\text { "Idle" } \\\text { Time }\end{array} \\\hline 1 & 1 & 1 & 4 & 5 & 0 & 1 \\\hline 2 & 5 & 5 & 7 & 12 & 0 & 0 \\\hline 3 & 7 & & & & & \\\hline 4 & 10 & & & & & \\\hline 5 & 18 & & & & & \\\hline\end{array}$$
What is the average customer waiting time and the graduate student's utilization?

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Definitions:

Money Supply

The aggregate quantity of all forms of money, including cash and bank deposits, circulating within an economy.

Interest Rates

The cost of borrowing money or the return on investment, typically expressed as a percentage.

Aggregate Demand

The full scope of demand for products and services in an economy, gauged at a specified price level across a specific duration.

Investment

The act of allocating resources, usually capital, to generate a return, which can include ventures in stocks, bonds, or physical assets like real estate.