A call center receives calls from customers at a rate of 2 per min. The time between customer calls follows an exponential distribution
(a) What is the probability that it takes 1/3 of a minute or less between consecutive customer calls?
(b) What is the probability that it takes 1/2 of a minute or more between consecutive customer calls?
(a) 0.487 (b) 0.368
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Which of the following is NOT a characteristic of management fraud?
a. Top management deception. b. Manipulation of financial statements. c. Kickbacks or bribes. d. Pressure to earn year-end bonuses.
A quick response (QR) inventory planning system is most effective when used in conjunction with _____
a. scrambled merchandising b. floor-ready merchandise c. efficient consumer response d. electronic article surveillance
The following information is taken from the balance sheet of Atlanta Company: Current assets$1134? Current liabilities$810? Property, Plant & Equip. 1720? Noncurrent liabilities 750? Total assets$2854? Total liabilities$1560? What is Atlanta Company's current ratio?
A. 0.71 to 1 B. 1.83 to 1 C. 1.4 to 1 D. 1.93 to 1
Tae Franklin is the sales manager of Darius Enterprises, a very profitable distributor of office furniture to local businesses. A recent economic downturn has created an extremely tight cash position, and the company has been hurt by the bankruptcy of two key customers.In late October, anticipating an economic recovery, Franklin began an extensive remodeling of the company's sales floor. Construction costs, decorating, and equipment purchases are projected to cost $250,000.Darius has a policy that individual expenditures in excess of $200,000 must be approved by the firm's board of directors. Franklin, unfortunately, missed the deadline to have the board consider this project at its regular September meeting. Not wanting to wait until the next meeting in December, he subdivided the
project in two parts-construction and decorating ($190,000) and equipment purchases ($60,000)-neither of which needed board approval because of the dollar amounts involved.The project was recently completed and sales have begun to recover. Customers have raved about the new sales area, noting that it is far superior to those of Darius's competitors.Required:A. Would Franklin's approach of subdividing the project in two parts have any effect on the company's financial statements? Briefly explain.B. Briefly discuss whether Franklin behaved in an ethical manner.C. Which, if any, of the following standards of conduct would have applicability to Franklin's conduct: competence, confidentiality, integrity, or credibility? Briefly explain. What will be an ideal response?