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RentaPhone is a new service company that provides European mobile phones to Americans visiting Europe. The company currently has 100 phones available at Charles de Gaulle airport in Paris. There are - on average - 25 customers per day requesting a phone. These requests arrive randomly throughout the 24 hours that the store is open. The interarrival times of customers follows an exponential distribution.
Customers keep their phones on average for 72 hours. The standard deviation of the service time is 20 hours. RentaPhone would like to analyze this system to understand the performance of the rental system. Fortunately, one of RentaPhone's Operations Managers recently completed an Ops class where the professor handed out a spreadsheet that can predict system performance. The spreadsheet requires the following inputs.
For the phone rental process, what is the average interarrival time (in seconds)?
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If the project is? successful, the bank will earn ?$80; if it is?unsuccessful, the bank will lose ?$100. The probability that the project will be successful is
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