Which of the following statements about the first round of the Littlefield game is TRUE?

1. One can adopt the queueing formula to estimate the lead time.
2. Increasing the maximum WIP in the game allow us to accept more jobs.
3. To achieve high cash position, it is important to time the buying and selling of the machines.
4. Station 2 is a bottleneck because both step 2 and step 4 needs station 2.