1.) Consider the baggage check-in of a small airlineCheck in data indicates that from 9 a.m to 10 a.m, 255 passenger check inMoro ever, based on counting the numbers of passengers waiting in line for check-in was 35how long did the average passenger have to wait in line?

2.) Joes Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern Minnesota. In2009, the companys revenue was $4,300,000 and its cost of sales was $3,200,000. Assume 52 weeks and 365 days per year.

a.) Joe keeps only 5.5 days-of-supply of inventory on average because much of his inventory is live bait and micro-brew beer, both of which have a short shelf life. What is his annual inventory turns? 

 

 

b.)Given that he has 5.5-days-of-supply of inventory on average, how much inventory does Joe have on average (in $s)?