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An urn contains nine white balls and 11 black balls. A ball is drawn and replaced. If the ball is white your opponent pays you 25 cents. If it is black you pay him 25 cents. You have one dollar and your opponent has 50 cents. Play continues until one of you is broke. What is the probability that you lose all your money? What is the expected number of times that you play prior to the game ending? What is the answer to these two questions if both you and your opponent started with 75 cents? 2. The manager of the Hippon Drug Store is remodeling his facility and is considering three ways of organizing his branded-items business. The first way is to employ a fast clerk to wait on all customers. Assume such a clerk serves customers exponentially at an average rate of two minutes per customer. The second way is to employ two moderately fast clerks to wait on all customers. Assume each serves customers exponentially at an average rate of four minutes per customer. The third way is to use a self-service system in which each customer waits on himself. Self-service, at an average rate of six minutes, is slower than clerk service. The manager wants to calculate the average number of customers in the store, the average time each spends in the store, and the average time each spends waiting for service, under each way of organizing. Assume that customers arrive completely randomly, one at a time, at the rate of 15 per hour. Calculate the operating characteristics of interest to the manager.
Data collected on the monthly demand for lawn mower at Azaka Gaarden Supply are shown in the following table Period Demand for lawn mower January 10 February 12 March 18 April 16 M
Like other large airlines, Global Airlines has a points-based incentive program. Customers who who join Global's FreeMiles program earn points by purchasing tickets from Global or
Process Design New product is not realities unit they are manufactured. Process design is necessary to manufacture new products. Process design is concerned with the overall
But from the outside, it's getting harder every day to articulate what Google is. Is it a Web company? A software company? Something else entirely? How are the situations for Fo
All else constant, as the price of petroleum increases relative to the prices of other inputs to the production process, in their effort to minimize their total costs of production
Capacity planning
What are the different levels of diversification firms can purpsue by using different corporate level strategies and what are the advantages to diversifying their operations?
We need to consider some accounting ideas in order to cover this week%u2019s Objective # 3. So in that regard, for your own business, which method of accounting would you use, the
Discuss the following statement: "Health care cost are out of control in the United States, and increasing conflicts between employers and employees are likely as employers try to
Your company manufactures turbine blades for engines in production batches for each type. For one type of blade, the A39T, you have an annual demand of 10,000 units. It costs you $
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