What is Little's Law? How might it be applied to determine the average length of time it takes an MBA student to complete the program?
What will be an ideal response?
Little's Law is articulated as W=L/?. The average time to complete an MBA can be calculated by dividing the number of students in the program by the arrival rate, i.e., how many students are admitted to the program on average, per year or per semester. Using the graduation rate (if the two rates are substantially different) might inflate the average time.
You might also like to view...
Marketing discipline varies from one region to another
Indicate whether the statement is true or false
Which of the following is not a major trend in e-commerce payments in 2018-2019?
A. Mobile retail payment volume decreases. B. PayPal remains the most popular alternative payment method. C. Large banks enter the mobile wallet and P2P payments market. D. Payment by credit and/or debit card remains the dominant form of online payment.
Which philosophy has the best chance of preventing out-group formation in the first place?
a. the granting of autonomy b. the withholding of autonomy c. the creation and distribution of interesting assignments d. leading with love
Cost accounting information is helpful to management for pricing decisions but has no effect on controlling costs.
Answer the following statement true (T) or false (F)