Customers at an amusement park arrive at the rate of 10 customers per hour. The entry booth is staffed by one employee. The mean service time at the booth to provide service to each customer is 5 minutes. The arrival rate follows a Poisson distribution, and the service time at the booth follows a negative exponential distribution. It is estimated that the cost of customer waiting time associated with dissatisfied customers and loss of goodwill is $15 per hour. The employee at the service booth is paid $10 an hour. Determine the total expected cost per day for the waiting line system. Assume total hours of operation as 10 hours per day.
a. $725
b. $625
c. $500
d. $100
a. $725
You might also like to view...
When preparing to be able to best respond to questions from the audience,
A) have friendly audience members ask predetermined questions. B) offer to meet after the presentation. C) prepare extra slides and handouts that will speak for you. D) learn about the audience and their concerns ahead of time. E) establish ground rules and don't respond to those who will not follow the rules.
The period of a note is the time from the note's (contract) date to its maturity date.
Answer the following statement true (T) or false (F)
Bill Simon says, "We should get rid of the FASB and SEC since free market forces will make sure that companies report reliable information.". Do you agree? Why or why not?
Specific performance is the usual judicially granted remedy for breach of contract
a. True b. False Indicate whether the statement is true or false