Question
A car mechanic, Carlos, is able to install new mufflers at an average rate of 1 every 20 minutes (following an exponential distribution). Customers needing
A car mechanic, Carlos, is able to install new mufflers at an average rate of 1 every 20 minutes (following an exponential distribution). Customers needing this service arrive at the shop (following a Poisson distribution) on an average of 2 per hour. If a car arrives at the shop, what is the probability that it will not have to wait to be serviced?
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Mean arrival rate 2 per hour Mean service rate 1 every 20 minutes 3 per ...
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
9th edition
007733762X, 978-0077398309, 77398300, 978-0073382333, 73382337, 978-0077337629
