Question
PA 16-13 (Algo) Larry Ellison starts a company that manufactures... Larry Ellison starts a company that manufactures high-end custom leather bags. He hires four employees.
PA 16-13 (Algo) Larry Ellison starts a company that manufactures...
Larry Ellison starts a company that manufactures high-end custom leather bags. He hires four employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 2 days, with a standard deviation of 2.2 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one.
What is the expected duration, in days, between when an order is received and when production begins on the bag?
Note: Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.
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