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Service time-probability distribution curve
A common example is that service times follow an exponential probability distribution i.e. y=e-x
Service channels - these refer to the number of service points and queues; If there is only one queue, but several service counters, the customer at the head of the queue will move to the first free counter when it becomes available. Where this system operates, there is a basic multiple channel or multi-channel system.
If there are several services counter each with its own queue, there is a more complex multiple channel or multichannel system.
Traffic intensity- this is the ratio of the average arrival rate to the average service rate. Unless a service rate is faster than the rate of new customers arriving in the queue the queue gets longer. An important assumption in queuing theory is that the traffic intensity must be less than one.
1. Paid $350,000 to purchase furniture and leased it to DEF Corp. for 5 years. DEF agreed to pay $89,955 on July 1 for each of the next 5 years. At the end of the lease term we ex
INCOME STATEMENTS
MNO Ltd produces and sells for $25 an office machine for which there is a heavy demand which the company is prevented from meeting because of a shortage of skilled labour. The dire
what is the topic about? what are the practical implications? what are the practical criticisms?
Transition probabilities These are the probabilities of moving from one state to another in the next time period. Usually they are written in the form of a probability matrix.
select any manufacturing company of your choice that produces any product. describe and compare the marginal and absorption costing system used in the selected company
limitation
After going through this section, you must be capable to: Know the concept and characteristics of working capital; Identify with the difference among net working capital
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Treasury management is explained as "the corporate handling of all financial matters, the production of external and internal funds for business, the management of cash flows and c
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