Agan interior design provides home and office decorating assistance to its customers. in normal operation, an average of 2.5 customers arrive each hour.
one design consultant is available to answer questions and make product recommendations. the consultant averages 10 minutres with each customer.

a. compute the operating characteristics of the customers wiating line, assuming posson arrivals and exponential service times.

b. service goals dictate that an arriving customer should not wait for service more than an average of 5 minutes. is this gaol being met?

c. if the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? will the service goal be met?

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; ///pegged exchange rate with the united states;

answerprotecting competitors;