A Service Counter Employs Two Servers

question 15

Multiple Choice

A service counter employs two servers.On average a server requires 8 minutes to process a customer and service times follow an exponential distribution.Customers arrive at the counter at the rate of 12 per hour according to a Poisson distribution.The average amount of time,in minutes,spent in the system (i.e. ,waiting and being served) is approximately

• A)0.237 minutes
• B)14.22 minutes
• C)22.20 minutes
• D)33.30 minutes

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Definitions:

Stock Investments

Financial assets representing ownership in a company, with the expectation of earning dividends or selling at a higher price for profit.

Brokerage Fees

Charges applied by a broker for performing trades or offering particular services.

Accrued Interest

This represents the amount of interest that has accumulated over a period of time on a loan or investment but has not yet been paid.

Stock Investments

Purchases of shares in other companies, held as assets, which represent partial ownership and may yield dividends and capital gains.