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1. To support National Heart Week, the Heart Association plans to install a free blood pressure testing booth in Franklin Park Mall for the week. Previous experience indicates that, on average, 6 persons per hour request a test. Assume arrivals are Poisson distributed from an infinite population. Blood pressure measurements can be made at a constant time of 6 minutes each.

a) What should we expect to be the average number of people in line? (Please round your answer to 2 decimal places)

b) What should we expect to be the average number of people in the system? (Please round your answer to 2 decimal places)

c) What should we expect to be the average amount of time that a person will spend in line? (Please round your answer to 2 decimal places AND state the time in MINUTES!)

2. You are in charge of determining the quarterly sales and operation plan for your company. You have recently received an updated forecast and need to update the most recent version of the plan (shown below). All of the assumptions you need can be found in the Calculation details column. Some values have already been filled in by your intern, but you need to complete the update and provide the updated quarterly cost for the summer quarter to your boss. What is the updated quarterly cost? (Please round your answer to the nearest $ value)

Financial Management, Finance

  • Category:- Financial Management
  • Reference No.:- M92077765

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