An average of 12 jobs per hour arrive at our departmentalprinter.a Use two different computations (one involving thePoisson and another the exponential random variable) todetermine the probability that no job will arrive duringthe next 15 minutes. b What is the probability that 5 or fewer jobs will ar-rive during the next 30 minutes?

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.