<span>I would assume that customers arrive at the queue according to the poisson process, and then decide whether to enter the queue or leave as per the rules in the question.
for (a)
I interpret "enter the system" as "join the queue".
The expected time for this will be
E(time until there is a free slot) + E(time for someone to arrive once a slot is free).
Noting that the additional time taken for someone to arrive once a spot is free is independant of the time that the slot became free (memorylessness property of poisson process)
The waiting time of a Poisson(\lambda) is exp(\lambda) with mean \frac{1}{\lambda}
E(\text{Time someone enters the system})=\frac{1}{2\mu} + \frac{1}{\lambda}
Your post suggests you already understand where \frac{1}{2\mu} comes from.</span>
1,200,000 is the answer i think, depends 2 what it rounds 2
Your answer is
<span>B. an invoice</span>
Answer:
a. Regulatory compliance costs - Fixed cost
b. Salaries of top management and key personnel - Fixed cost
c. Cost of metal used in manufacturing - Variable cost
d. Cost of wood used in manufacturing - Variable cost
e. Mortgage payments - Fixed cost
f. Industrial equipment costs - Fixed cost
g. Interest on debt - Fixed cost
h. Postage and packaging costs - Variable cost
Explanation:
The cost which is affected by the production of units is known as variable cost. The cost which does not vary with the units produced is fixed cost. Fixed cost does not change from period to period irrespective of level of output and is usually same for a certain period. It is easy to budget for fixed costs instead of variable cost. Variable cost changes every period and is based on company's output.
