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:

Market Index

A statistical measure that tracks the performance of a specific basket of stocks or assets to represent a segment of the financial market.

Beta

A metric that measures the volatility of an investment relative to the overall market's volatility.

Regression Analysis

A statistical method used to estimate the relationships among variables, often to predict the value of a dependent variable based on one or more independent variables.

Adjustment Technique

Methods or procedures used to modify financial or operational data for comparison or analysis purposes.