Customers enter the waiting line to pay for food as they leave a cafeteria on a first-come, first-served basis. The arrival rate follows a Poisson distribution, while service times follow an exponential distribution. If the average number of arrivals is two per minute and the average service rate of a single server is five per minute, what portion of the time is there less than 3 people in line?

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Q: Please Hwlp!!!!!!!

A:

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A: Given that - Arrival Time (λ) =2 customers per hour Service Time (μ) = 20 minutes, or 6020= 3…

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A:

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A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

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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.