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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.
State the Working capital turnover ratio Meaning: this ratio establishes a relation ship among net sales and working capital. Working capital turnover ratio shows the vel
Accounting Profit is a company's sum total earnings, computed according to Generally Accepted Accounting Principles (GAAP), and involves the explicit costs of operating business, l
Explain the Types of standards The following is the brief description of various types of standards: 1) Basic standards: these are the standards which are assumed to remai
Adm2341 manufactures and sells four different products. The following data are extracted from the most recent financial statements: Products
Change of Technology: Changes in technology commonly leads to improvements in the efficient processing of raw material, reduce in wastages, more speedy production and higher produ
Susan works in a real estate office that is equipped with up-to-date copiers, scanners, and printers. She is frequently the only employee working in the office in the evenings and
Parameter prediction error: This is another aspect of faulty planning. As Hongren says, ‘planning decisions are based on predictions of future costs, future selling price, fut
definition and illustrations
How to calculate POHR for a company
Inventory planning & control under uncertainty The basic EOQ model assumes that all the parameters (elements) in the model are certain (i.e. can be predicted precisely in advan
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