Question: On average, Pharma Dev files a new patent every 5 months (with standard deviation of 5 months). The development process at a development center lasts
On average, Pharma Dev files a new patent every 5 months (with standard deviation of 5 months). The development process at a development center lasts 12 months on average (with standard deviation of 24 months). (Hints: each development center could be seen as a server; there is a single queue of new technologies)
a. On average, for a new technology, how long does it take from filing (and winning immediately) a patent to the beginning of the development process?
b. On average, for a new technology, how long does it take from filing (and winning immediately) a patent to the end of the development process?
c. Pharma Devs competitor, Pills & Co, has almost identical operation: all the parameters of the process are the same, but the number of development centers equals 4. On average, how many years of patent life will be left on a technological product when it is launched by Pills & Co to the market?
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