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A small service firm responds to walk-in customers who arriv…

A small service firm responds to walk-in customers who arrive on average, every 24 minutes. During one shift, the firm is staffed by a relatively new and somewhat inexperienced employee. This employee currently has an average service time of 10 minutes per customer. Assuming Poisson arrivals and exponential service times, and using your knowledge of queuing theory, answer the following questions. Points possible on the following questions are: 1a) 5, 1b) 5, 2c) 5, 2di) 5, 2dii) 5Ideally, the firm desires that the average waiting time for a customer is less than five minutes. Calculate the average wait in queue, provide your numerical result, and explain whether the objective of average wait time of less than five minutes will or will not be satisfied.Calculate the average length of the waiting line, provide your numerical result. Then answer the following: If the firm desires to have no more than one person waiting, will this goal be accomplished On average?Always?

It was predicted (by no one in particular) that the Washingt…

It was predicted (by no one in particular) that the Washington Nationals and the Houston Astros would have re-match for the World Series of Baseball in 2023. Based on totally made up data (below) the following table can be used to simulate a win for the Astros. Game         Interval for Houston (Astros) Win                     .00 but less than .52                     .00 but less than .55                     .00 but less than .48                     .00 but less than .45                     .00 but less than .48                     .00 but less than .55                     .00 but less than .50 As you may or may not know, the first team to win a total of four games wins the series, so the minimum number of games played is 4 and the maximum number of games played is 7. Betting in Las Vegas indicates exceptionally high payoffs for bets that the Astros will win the series in 4 games.  (part 1 is worth 50% of the possible points on this problem. Parts 2 & 3 are worth 25% each).    Part 1) Set up and run 500 simulations (using Excel) of the first four games and determine what percentage of those 500 simulations result in the Astros winning all four games.    Part 2) The anticipated payoff for the Astros willing the series in 4 games is 500 to 1, meaning that if you bet $100 on the Astros winning the series in 4 games – and if it happens, you would be paid 500 x $100 = $50,000 on your $100 bet. Assume that you actually have $100 to bet on this game, Is this a good bet to make? Explain your answer.    Part 3) Four hundred and ninety-nine of your best friends also have $100 to bet. One of them (the one who learned a bit about risk pooling in the MBA program) suggests that you all pool your money and buy 500 – $100 bets, and then equally share the winnings (if any). You are an ‘influencer’ and your friends will do whatever you decide to do. If you decide to ‘bet’ what is the expected value of your payoff-based on your simulation results (remember, your payoff is 1/500th of the expected winning and zero is a real possibility). So, how good of an idea is it to place the bet (along with all of your friends, or not?). Explain your answer. Download the included Excel file (If it wasn’t provided to you already). Perform your analysis(es) in the downloadable Excel file and Include your responses to the three parts to the problem in that file, where directed. You must email me your response as an excel file, immediately following your completion of the exam. Exam 2-Simulation question and answer — Exam File.xlsx

Bonus questions:  1. Name the birthing canal. 2. What is the…

Bonus questions:  1. Name the birthing canal. 2. What is the medical term for the womb? 3. Inflammation of which male organ makes it hard to void? 4. A pregnancy outside of the womb is called an __________________ pregancy. 5. Which female organs produce estrogen and progesterone?