Customers arrive at Valdezs Real Estate at an average rate of one per hour Arrivals can be assumed to follow the Poisson distribution Juan Valdez, the agent, estimates that he spends an average of 30 minutes with each customer The standard deviation of service time is 15 minutes, and the service ti...

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Customers arrive at Valdezs Real Estate at an average rate of one per hour. Arrivals can be

Question:

Customers arrive at Valdez’s Real Estate at an average rate of one per hour. Arrivals can be assumed to follow the Poisson Juan Valdez, the agent, estimates that he spends an average of 30 minutes with each customer. The standard deviation of service time is 15 minutes, and the service time is arbitrary.
(a) Calculate the operating characteristics of the queuing system at Valdez’s agency.
(b) What is the probability that an arriving customer will have to wait for service?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...