Customers Arrive at a Carwash with on Average Once Every

question 50

Multiple Choice

Customers arrive at a carwash with on average once every 20 minutes. It seems likely that customer arrivals follow an exponential distribution. In a simulation, the random number 0.1398 is generated. How long it will be until the next simulated arrival occurs?

• A) 49.35 minutes
• B) 39.35 minutes
• C) 29.35 minutes
• D) 19.35 minutes
• E) 9.35 minutes

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Definitions:

Unexpected Opportunities

Unforeseen chances or prospects that arise, potentially beneficial for decision-making or strategic planning.

Cash Management

Cash management involves the collection, handling, and usage of cash. It aims to manage a company's short-term financial stability and liquidity.

Adequate Liquidity

The ability of an entity to meet its short-term financial obligations with its readily available assets.

Accounts Receivable Factor

A financial transaction where a company sells its accounts receivable to a third party (factor) at a discount, to obtain immediate cash.