What Are Ls and Lq,as Used in Waiting Line Terminology

question 32

Essay

What are Ls and Lq,as used in waiting line terminology? Which is larger,Ls or Lq? Explain.

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Definitions:

Accounts Receivable Turnover

A financial metric that measures how efficiently a company collects revenue from its credit sales.

Average Collection Period

Refers to the average number of days it takes for a business to receive payments owed by its customers after a sale has been made on credit.

Inventory Turnover

A ratio that measures the number of times inventory is sold or used over a period, indicating the efficiency of inventory management.

Average Sale Period

This measure indicates the average duration it takes for a company to turn its inventory into sales.