The Local Grocery Store Consists of Two Cashiers

question 36

Multiple Choice

The local grocery store consists of two cashiers. The customers arrive at the checkout according to the Poisson distribution and the service times are based on negative exponential distribution. The average customer service time is 4 minutes and the average time between the arrivals of successive customers is 3 minutes. Assume that customers equally divide themselves between the two cashiers.
-How much time is a customer expected to spend waiting in line and checking out?

• A) 8 minutes
• B) 12 minutes
• C) 16 minutes
• D) 20 minutes

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Definitions:

Treasury Stock-Common

Refers to shares that were issued and later reacquired by the issuing company, reducing the amount of outstanding stock on the open market.

Par Value

The stated value of a share of stock or a bond, set at the time of its issuance, and used to determine its trading value.

Par Common Stock

The face value of a share of common stock as specified in the corporate charter.

Purchase Price

The total cost incurred to acquire an asset, including the price of the asset itself along with any additional costs necessary to bring the asset to a usable state.