Question
The delivery wagon that the hominy man had used for the last three decades was beyond repair, so he decided to open a hominy stand
The delivery wagon that the hominy man had used for the last three decades was beyond repair, so he decided to open a hominy stand at a busy intersection in downtown Luther. Customers arrive at the rate of 8 per hour and it takes 5 minutes on average to fill their buckets with hominy.
a. What is the likelihood that the line is longer than three people? b. What is the average waiting time in line? c. What is the average number of customers in line?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
