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 min. The arrival rate follows a Poisson distribution, and the service time at the booth follows a negative exponential distribution. Determine the average number of customers waiting in line.
A. 3.23 customers
B. 4.17 customers
C. 8 customers
D. 7.65 customers
B. 4.17 customers
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If demand changes greatly with a small change in price, the demand is ________
A) variable B) inelastic C) derived D) elastic E) negative
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What will be an ideal response?
A hybrid costing system combines characteristics of
a. job order and standard costing systems. b. job order and process costing systems. c. process and standard costing systems. d. job order and normal costing systems.
In general, businesses have not altered their marketing management philosophies much since the eighteenth century
Indicate whether the statement is true or false