E average time between two consecutive arrivals in a single-channel queuing system(M/M/1) is 20 minutes and it takes an average of 10 minutes to provide the service. Investmentin a superior technology can reduce the time required to service a customer from 10 minutes to5 minutes. If the cost of lost sales because of waiting in the line is approximated as $100 perweek for each minute of wait and the cost of using the new technology is $200 per week(assume fixed cost of the technology is zero), then should the company use the new technology? If the company use the new technology, then what is the weekly payoff of usingthe new technology

Your father offers you a choice of $120,000 in 11 years or $48,500 today. use appendix b as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. if money is discounted at 11 percent, what is the present value of the $120,000?

This exercise illustrates that poor quality can affect schedules and costs. a manufacturing process has 130 customer orders to fill. each order requires one component part that is purchased from a supplier. however, typically, 3% of the components are identified as defective, and the components can be assumed to be independent. (a) if the manufacturer stocks 130 components, what is the probability that the 130 orders can be filled without reordering components? (b) if the manufacturer stocks 132 components, what is the probability that the 130 orders can be filled without reordering components? (c) if the manufacturer stocks 135 components, what is the probability that the 130 orders can be filled without reordering components?

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.