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Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 1.7 days, with a standard deviation of 3 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one. X Answer Is complete but not entirely correct. (Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.) What is the expected duration, in days, between when an order is received and when production begins on the bag? 30.39 8 days

Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 1.7 days, with a standard deviation of 3 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one. X Answer Is complete but not entirely correct. (Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.) What is the expected duration, in days, between when an order is received and when production begins on the bag? 30.39 8 days

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 1.7 days, with a standard deviation of 3 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one. X Answer Is complete but not entirely correct. (Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.) What is the expected duration, in days, between when an order is received and when production begins on the bag? 30.39 8 days
Transcribed Image Text:Larry Ellison starts a company that manufactures high-end custom leather bags. He hires two employees. Each employee only begins working on a bag when a customer order has been received and then she makes the bag from beginning to end. The average production time of a bag is 1.7 days, with a standard deviation of 3 days. Larry expects to receive one customer order per day on average. The interarrival times of orders have a coefficient of variation of one. X Answer Is complete but not entirely correct. (Carry at least 4 decimal places in all intermediate calculations. Round your final answer to 2 decimal places.) What is the expected duration, in days, between when an order is received and when production begins on the bag? 30.39 8 days
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