How long are customers taking to pay their bills

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1. Fisher's Furniture Store sells $800,000 worth of furniture to customers on credit each month. The Accounts Receivable balance in the accounting books averages $2 million. On average, how long are customers taking to pay their bills?

2. Vacation Inns, a chain of hotels operating in the southeastern region of the U.S., uses a toll-free telephone number to take reservations for all of its hotels. An average of 12 calls are received per hour. The probability distribution that describes the arrivals is unknown. Over a period of time, it is determined that the average caller spends 6 minutes on hold waiting for service. Find the average number of callers in the queue by using Little's Law.

Reference no: EM131257787

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