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Business, 08.03.2021 19:50 nana54muller

(Q14 in book): Larry Ellison starts a company that manufacturers 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 1.8 days with a standard deviation of 2.7 days. Larry expects to receive one customer order per day on average. The inter-arrival times of orders have a coefficient of variation of 1. The expected duration, in days, between when an order is received and when production begins on the bag, equals: [days]. (Note, this duration includes the time waiting to start production but do not include the time in production.) Question 5 options:

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(Q14 in book): Larry Ellison starts a company that manufacturers high-end custom leather bags. He hi...
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