Question: Instruction: On a short-sized coupon bond, answer the problems listed below.Online queue time calculator may be used. Answers should be rounded-off to two decimal places.

Instruction: On a short-sized coupon bond, answer

Instruction: On a short-sized coupon bond, answer the problems listed below.Online queue time calculator may be used. Answers should be rounded-off to two decimal places. 1. 2. The Minute Stop Market has one pump for gasoline, which can service 10 customers per hour (Poisson distributed). Cars arrive at the pump at a rate of 5 per hour (Poisson distributed). a. Determine the average queue length, the average time a car is in the system, and the average time a car must wait. b. If, during the period from 4:00 P.M. to 5:00 P.M., the arrival rate increases to 12 cars per hour, what will be the effect on the average queue length? When customers arrive at Gilley's Ice Cream Shop, they take a number and wait to be called to purchase ice cream from one of the counter servers. From experience in past summers, the store's staff knows that customers arrive at the rate of 35 per hour (Poisson distributed) on summer days between 3:00 P.M. and 10:00 P.M. and a server can serve 15 customers per hour on average (Poisson distributed). Gilley's wants to make sure that customers wait no longer than 5 minutes for service. Gilley's is contemplating keeping three servers behind the ice cream counter during the peak summer hours. Will this number be adequate to meet the waiting time policy

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