A university is considering setting up an information desk manned by one employee. Based on information obtained from similar information desks, it is believed that people will arrive at the desk at the rate of 18 per hour.   It takes an average of 2 minutes to answer a question.   It is assumed that arrivals are Poisson and answer times are exponentially distributed. 7. Find the average time a person seeking information spends at the desk. 8. Find the expected time a person spends just waiting in line to have a question answered. 9. What is the probability there are exactly 2 people in the system? 10. What is the probability there are more than 4 people in the system?

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A:

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A:

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.