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Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour. Calculate:
1) Expected average time ( in minutes) a customer spends at the station
2) Average number of cars in the station ( both in line and being washed)
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Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
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Ask Describe What-if Analysis
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Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us
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