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Question - As an example of the single-server model with undefined service times, consider a business firm with a single photocopy machine. Employees arrive randomly to use the machine, at an average rate of 10 per hour, according to a Poisson distribution. The time an employee spends using the machine is not defined by any probability distribution but has a mean of 4 minutes and a standard deviation of 3 minutes.
Required -
1. Determine the number of employees in line and using the machine.
2. Determine the average waiting time in the system.
Determine for the month of March the total cost transferred to the finished goods inventory and the total cost of the ending Work in Process inventory
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If our earnings go down, our stockholders are hurt because stock prices will fall, and our managers will be hurt because their bonuses are tied to earnings.'' What is wrong with the executive's statement?
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