A computer system queues up batch jobs and processes them on an FCFS basis.Between 2 and 5 P.M., jobs arrive at an average rate of 30 per hour and require anaverage of 1.2 minutes of computer time. Assume the arrival process is Poissonand the processing times are exponentially distributed. a. Compute the variance of the flow times assuming FCFS, LCFS, and randomselection disciplines

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Risk Management Techniques

Risk management is the procedure of recognizing, analyzing, monitoring, and preventing the risks and threatening factors of investments and business. Risks can arise from various factors including internal controls, market changes, natural disasters, and failure in productions. Risk management techniques enable entities to control and minimize the risks as well as the threatening factors of the business and it also helps to improve the business.