4. The Westland Title Insurance Company leases one copying machine for $45 per day that is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
4. The Westland Title Insurance Company leases one copying machine for $45 per day that is used by all individuals at its office. An average of five persons per hour arrive to use this machine, with each person using it for an average of eight minutes. Assume that the interarrival times and copying times are exponentially distributed. What is the probability that a person arriving to use the machine will find it idle? b. On average, how long will a person have to wait before getting to use the machine? On average, how many people will be using or waiting to use the copy machine? d. Suppose that the people who use the copy machine are paid an average of $9 per hour. On average, how much does the company spend in wages during each eight-hour day paying the people who are using or waiting to use the copy machine? If the company can lease another copying machine for $45 per day, should they do it? 4. The Westland Title Insurance Company leases one copying machine for $45 per day that is used by all individuals at its office. An average of five persons per hour arrive to use this machine, with each person using it for an average of eight minutes. Assume that the interarrival times and copying times are exponentially distributed. What is the probability that a person arriving to use the machine will find it idle? b. On average, how long will a person have to wait before getting to use the machine? On average, how many people will be using or waiting to use the copy machine? d. Suppose that the people who use the copy machine are paid an average of $9 per hour. On average, how much does the company spend in wages during each eight-hour day paying the people who are using or waiting to use the copy machine? If the company can lease another copying machine for $45 per day, should they do it?
Expert Answer:
Answer rating: 100% (QA)
Answer Solution 4 Server utilisation rate p2062 a The probability thatzero customers in the s... View the full answer
Related Book For
Applied Statistics in Business and Economics
ISBN: 978-0073521480
4th edition
Authors: David Doane, Lori Seward
Posted Date:
Students also viewed these finance questions
-
The average service time at a Noodles & Company restaurant was 3.5 minutes in the previous year. Noodles implemented some time-saving measures and would like to know if they have been effective. They...
-
Sportswear Ltd sets selling prices at cost plus 20%. The company's accounting period ended on December 20x8. The physical inventory was taken on 5 January 20x9 and amounted to $482,800 being the...
-
The market expected return is 8% with a standard deviation of 18%. The risk free rate is 3.5%. Security XYZ has just paid a dividend of $5 and has a current price of $80. What is the beta of Security...
-
Number of toys produced 60,000 120,000 150,000 O $0.20 What is the materials cost per unit of output? O $0.30 Starfun Toys, Inc. Cost of Materials O $0.70 O $0.50 Total cost of materials $18,000...
-
The asteroid belt between Mars and Jupiter may be the remnants of a failed planet. If so, then Jupiter is really in position 6, Saturn is in 7, and so on. Repeat Exercise 23, using this revised...
-
Steam enters a nozzle at 400°C and 800 kPa with a velocity of 10 m/s, and leaves at 300°C and 200 kPa while losing heat at a rate of 25 kW. For an inlet area of 800 cm2, determine the...
-
Given \(90^{\circ}\) threaded elbows used in conjunction with copper pipe (drawn tubing) of 0.75-in. diameter, convert the loss for a single elbow to equivalent length of copper pipe for wholly...
-
Marya Callais, a citizen of Florida, was walking along a busy street in Tallahassee, Florida, when a large crate flew off a passing truck and hit her, causing numerous injuries. She experienced a...
-
Discuss the implementation of quality management systems (QMS), such as ISO 9001, in organizations, highlighting the importance of process standardization, continual improvement, and internal audits...
-
Deduce the structure of a compound with molecular formula C 5 H 10 O that exhibits the following IR, 1 H NMR, and 13 C NMR spectra. Data from the mass spectrum are also provided. 100 Mass Spec. Data...
-
3. Another way to measure an angle is to compare the length of the arc that the angle sweeps out on a circle to the radius of the circle. That is: radians arc length radius Using this information,...
-
1 2 34 What is "SWOT analysis? How do you carry it for a technical educationalinstitute? What is corporate planning? Explain the process of corporate planning? Discuss the process of strategy...
-
The spot EURSAR rate is 3 , 6 8 , the 6 months euro interest rate is 1 , 8 0 % and the 6 months Riyal rate is 4 % . The 6 months forward rate must quote at?
-
Discuss the topics regarding the financial statements and how it relates to the article below. Also, if you were brought on board as "Director of Operations", what models or processes would you...
-
A company with 800,000 in assets has sales of $1,000,000. Their net income is $80,000 and $500,000 in liabilities. According to the Dupont Identity, what is the company's ROE? 20.0% 16.0% 8.0% 26.67%...
-
Determine the current through the load resistance R = 502 across the terminals A-B of the circuit shown in figure, using thevenin's theorem. Find also the maximum power transfer to the resistance RL...
-
Bob and Larry have been working at their organization for the same amount of time, and they seem to work equally hard at their work and contribute about the same amount to their organization. Bob has...
-
Consider the reaction of acetic acid in water CH 3 CO 2 H(aq) + H 2 O(l) CH3CO 22 (aq) + H 3 O + (aq) where Ka 5 1.8 3 1025. a. Which two bases are competing for the proton? b. Which is the stronger...
-
The results shown below are mean productivity measurements (average number of assemblies completed per hour) for a random sample of workers at each of three plants. Research question: Are the mean...
-
(a) Plot the data on revolving credit (credit cards and home equity lines of credit are the two major types of revolving credit). (b) Use MegaStat or MINITAB to calculate seasonal indexes and trend....
-
List the X values that are included in each italicized event. a. You can miss at most 2 quizzes out of 16 quizzes (X = number of missed quizzes). b. You go to Starbuck's at least 4 days a week (X =...
-
Maribel Ortiz is puzzled. Her company had a profit margin of 10% in 2025. She feels that this is an indication that the company is doing well. Gordon Liddy, her accountant, says that more information...
-
At December 31, 2025, the fair value of non-trading securities is 41,300 and the cost is 39,800. At January 1, 2025, there was a credit balance of 900 in the Fair Value Adjustment Non-Trading...
-
On January 1, 2025, Lennon Enterprises acquires 100% of Ono Ltd. for 220,000 in cash. The condensed statements of financial position of the two companies immediately following the acquisition are as...
Study smarter with the SolutionInn App