The scenario relates to a waiting line at the Dipping star at Six Flags. For the purposes of the next two questions, assume that the Wicked Twister, which was permanently closed in September 2021, has since relocated and re-opened at a different venue in California.   Suppose that a waiting line at the Dipping Star at Six Flags follows M/M/1 queue, with unlimited arrivals, and FIFO.  Assume that on a busy holiday, visitors to the Dipping Star purchase tickets in person every five minutes on average.  Also, assume that the employees at the ticket counters on average serve fifteen customers every hour.  What is the expected average time a customer waits in line before it is their turn to purchase tickets?  a. 2 minutes b. 3.3 minutes c. 8 minutes d. 16 minutes e. 26.6 minutes On average, how many customers are waiting in line? a. 1.5 b. 1.9 c. 3.2 d. 4.1 e. 3.25 students

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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.