A Waiting-Line System That Meets the Assumptions of M/M/S Has

question 23

Multiple Choice

A waiting-line system that meets the assumptions of M/M/S has λ = 5,μ = 4,and M = 2.For these values,Po is approximately 0.23077 and is approximately 2.05128.The average time a unit spends in this system

• A)is approximately 0.1603.
• B)is approximately 0.2083.
• C)is approximately 0.4103.
• D)is approximately 0.8013.
• E)cannot be calculated because λ is larger than μ.

---

Definitions:

Bean Sprouts

Edible shoots from germinated beans, commonly used in Asian cuisine for their crunchy texture and nutritional value.

Firm's Production

The total output of goods or services produced by a company during a specific period.

Inverse Demand

is a concept in economics that represents the relationship between the price and the quantity demanded, showing how price can be expressed as a function of quantity.

Cournot Duopolists

Firms in a duopoly (market dominated by two companies) that follow the Cournot model, basing their decisions on the quantities produced by their competitors, aiming to maximize profits.