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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.
Why or why not the logistics has such an important economic impact
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Describe the four-step framework for one-to-one marketing that can be adapted to CUSTOMER RELATIONSHIP MANAGEMENT marketing?
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Outline and explain the three major elements (and their arguments) contained in the controversial question as to whether union security provisions should be negotiated in labour ag
What are the disadvantages of operation management?
We have discussed many positive things about iPads, iPhones, tablets and Smart Phones, what are some negative things you have experienced with the device you use?
1. A manufacturing company has a small production line dedicated to the production of a particular product. The line has four stations in serial. Inputs arrive at station 1 and the
The inefficiencies created by more and more people working together is called
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