The parts department of a large automobile dealership has a counter used exclusively for mechanics requests for
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a. On average, how many mechanics would be at the counter, including those being served?
b. What is the probability that a mechanic would have to wait for service?
c. If a mechanic has to wait, how long would the average wait be?
d. What percentage of time are the clerks idle?
e. If clerks represent a cost of $ 20 per hour and mechanics a cost of $ 30 per hour, what number of clerks would be optimal in terms of minimizing total cost?
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...
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