Graft Hair Salon has three barbers to provide service in a neighborhood of downtown Santa Fe. Customers arrive at a rate of 8 customers per hour, and the average service time of each person is 15 minutes. The interarrival time and service time of customers are exponentially distributed. On average, how many customers are in the hair salon? Keep one decimal after rounding for your answer. Group of answer choices 0.9 1.6 2.9 0.1 0.4 a number different from all the above On average, how long must customers wait in line before being served? Keep one decimal after rounding for your answer. Group of answer choices 21.7 minutes 47.9 minutes 0.0 minutes 4.0 minutes 6.7 minutes a value different from all the above If the average service time is reduced from 15 minutes to 12 minutes due to the adoption of a standardized process, how long will customers spend in the hair salon? Keep one decimal after rounding for your answer. Group of answer choices 2.3 minutes 11.2 minutes 14.3 minutes 16.4 minutes 18.8 minutes a number (in minutes) different from all the above With the average service time being 15 minutes, the owner of the hair salon wants there to be no more than a 10% chance that a customer will be placed on hold. How many barbers should the hair salon have? Group of answer choices 2 4 more than 6
Graft Hair Salon has three barbers to provide service in a neighborhood of downtown Santa Fe. Customers arrive at a rate of 8 customers per hour, and the average service time of each person is 15 minutes. The interarrival time and service time of customers are exponentially distributed. On average, how many customers are in the hair salon? Keep one decimal after rounding for your answer. Group of answer choices 0.9 1.6 2.9 0.1 0.4 a number different from all the above On average, how long must customers wait in line before being served? Keep one decimal after rounding for your answer. Group of answer choices 21.7 minutes 47.9 minutes 0.0 minutes 4.0 minutes 6.7 minutes a value different from all the above If the average service time is reduced from 15 minutes to 12 minutes due to the adoption of a standardized process, how long will customers spend in the hair salon? Keep one decimal after rounding for your answer. Group of answer choices 2.3 minutes 11.2 minutes 14.3 minutes 16.4 minutes 18.8 minutes a number (in minutes) different from all the above With the average service time being 15 minutes, the owner of the hair salon wants there to be no more than a 10% chance that a customer will be placed on hold. How many barbers should the hair salon have? Group of answer choices 2 4 more than 6
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Graft Hair Salon has three barbers to provide service in a neighborhood of downtown Santa Fe. Customers arrive at
a rate of 8 customers per hour, and the average service time of each person is 15 minutes. The interarrival time and
service time of customers are exponentially distributed.
On average, how many customers are in the hair salon? Keep one decimal after rounding for your answer.
Group of answer choices
0.9
1.6
2.9
0.1
0.4
a number different from all the above
On average, how long must customers wait in line before being served? Keep one decimal after rounding
for your answer.
Group of answer choices
21.7 minutes
47.9 minutes
0.0 minutes
4.0 minutes
6.7 minutes
a value different from all the above
If the average service time is reduced from 15 minutes to 12 minutes due to the adoption of a standardized process,
how long will customers spend in the hair salon? Keep one decimal after rounding for your answer.
Group of answer choices
2.3 minutes
11.2 minutes
14.3 minutes
16.4 minutes
18.8 minutes
a number (in minutes) different from all the above
With the average service time being 15 minutes, the owner of the hair salon wants there to be no more than a 10%
chance that a customer will be placed on hold. How many barbers should the hair salon have?
Group of answer choices
2
4
more than 6
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