What is the average rate of consumer arrivals

Assignment Help Corporate Finance
Reference no: EM13899349

The ADJO Police Department participates in a work-release program in which prisoners may work at the county dairy show, which has only one entrance where patrons pay for tickets before entering the event. Customers visit the entrance and purchase tickets at a rate of 47 per hour. The entrance typically serves an average rate of 51 people per hour. Further, ADJO estimates that waiting costs of being in the queue are $2.00 per hour. Work release for the prisoners does not occur dur- ing weekends. Further, work release for the prisoners only occurs during the day shift (assuming a 12-hour shift). For the entrance, assuming the Poisson and exponential distributions, answer the fol- lowing questions using the formulae presented within Table 11.1:

a. What is the average rate of serviced consumers per hour?

b. What is the average rate of consumer arrivals?

c. What is the average quantity of consumers within the system?

d. What is the average time a consumer spends in the system?

e. What is the average quantity of consumers within the queue?

f. What is the average time a consumer spends in the queue?

g. What is the utilization factor?

h. What is the probability that no consumers are in the system?

i. What is the probability that more than four consumers are in the system?

j. What is the probability that more than seven consumers are in the system?

k. What is the daily cost of waiting consumers?

l. What is the hourly cost of waiting consumers?

m. What is the weekly cost of waiting consumers?

n. What is the monthly cost of waiting consumers?

o. What is the annual cost of waiting consumers?

Text Book: Economic and Financial Analysis for Criminal Justice Organizations By Daniel Adrian Doss, William H. Sumrall III, David H. McElreath, Don W. Jones.

Reference no: EM13899349

Questions Cloud

What is probability that four candidates will pass the exam : The local police academy has 18 new graduates this month that will take the aptitude exam. What is the probability that at most, four candidates will pass the exam?
Does you argument have any moral premises : Globalization understood in economic terms and threats to the environment stimulate arguments. Draft an argument that addresses an aspect of world economics. Does you argument have any moral premises? Argue that it does or that it doesn't
How do interpret slope and y intercept in a real world case : When graphing a linear inequality. How do you know if the inequality represents the area above or below the line? How do you know if it also represents the points on the line?
Which of the following practices would be discriminatory : Which of the following practices would be discriminatory?
What is the average rate of consumer arrivals : What is the average rate of serviced consumers per hour? What is the average rate of consumer arrivals? What is the average quantity of consumers within the system?
Difference between employing foreign nationals : Which of the following is a difference between employing foreign nationals with work visas for work in the U.S. and employing U.S. citizens?
Calculate the correlation coefficient between two variables : Calculate the correlation coefficient between the two variables
The most effective way for an employer : Of the following, the most effective way for an employer to respond to an employee's claim of retaliation would be:
Calculate extra power needed maintain speed of up escalator : Calculate the extra power needed to maintain the speed of the up escalator when it is full (assume the capacity of the escalator is calculated at two people plus luggage - a total of 200 kg - on each available step).

Reviews

Write a Review

Corporate Finance Questions & Answers

  Impact of the global economic crisis on business environment

This paper reviews the article of ‘the impact of the global economic crisis on the business environment' that is written by Roman & Sargu (2011).

  Explain the short and the long-run effects on real output

Explain the short and the long-run effects on real output, price, and unemployment

  Examine the requirements for measuring assets

Examine the needs for measuring assets at fair value in accounting standards

  Financial analysis report driven by rigorous ratio analysis

Financial analysis report driven by rigorous ratio analysis

  Calculate the value of the merged company

Calculate the value of the merged company, the gains (losses) to each group of shareholders, NPV of the deal under different payment methods. Synergy remains the same regardless of payment method.

  Stock market project

Select five companies for the purpose of tracking the stock market, preparing research on the companies, and preparing company reports.

  Write paper on financial analysis and business analysis

Write paper on financial analysis and business analysis

  Intermediate finance

Presence of the taxes increase or decrease the value of the firm

  Average price-earnings ratio

What is the value per share of the company's stock

  Determine the financial consequences

Show by calculation the net present value for the three alternatives (no education, network design certification, mba). Also, according to NPV suggest which alternative you advise your friend to choose

  Prepare a spread sheet model

Prepare a spread sheet model for the client that determines NPV/IRR with and without tax.

  Principles and tools for financial decision-making

Principles and tools for financial decision-making. Analyse the concept of corporate capital structure and compute cost of capital.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd