A Distribution of Service Times at a Waiting Line Indicates

question 15

Multiple Choice

A distribution of service times at a waiting line indicates that service takes 12 minutes 30% of the time and 14 minutes 70% of the time. This distribution has been prepared for Monte Carlo analysis. The first four random numbers drawn are 07, 60, 77, and 49. The average service time of this simulation is

• A) 12 minutes.
• B) 13 minutes.
• C) 13.5 minutes.
• D) 14 minutes.
• E) 16 minutes.

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Definitions:

Psychographic Variables

Characteristics of consumers that describe their psychological attributes, including attitudes, interests, values, and lifestyles, which influence purchasing behavior.

Target Audience

The specific group of people at whom a product, a service, or a marketing message is aimed.

Product Usage

Refers to the manner and frequency with which consumers or clients use a particular product.

FRM

Stands for Financial Risk Manager, a certification for finance professionals who specialize in assessing and managing financial risk.