Flag Barges arrive at the Chain of Rocks Lock in Granite City, Illinois at a rate...

Flag Barges arrive at the Chain of Rocks Lock in Granite City, Illinois at a rate of one every 45 minutes and times between arrivals is exponentially distributed. On average it takes 30 minutes to move a barge through the lock and this time is exponentially distributed. What is the probability that the system has one barge being served and exactly one in the queue? What is the longest average service time for which the average waiting time is less than 50 minutes

Expert Solution

ekkarill92 answered 2 years ago

A regional restaurant chain, Club Finance Rocks (CFR), is considering purchasing a smaller chain, AccountingIsOkToo Sandwiches...

A regional restaurant chain, Club Finance Rocks (CFR), is considering purchasing a smaller chain, AccountingIsOkToo Sandwiches (AIOT). The following post-merger data for the AIOT is projected. The values below are in millions. After the fourth year, the free cash flows and the tax shields will both grow at a constant rate of 4%. AIOT has $50 million of debt and $60 million of non-operating assets. Current stock price of the AIOT is $16 per share, with 12 million shares outstanding....

In February, a company wants to lock in the interest rate that will be earned for...

In February, a company wants to lock in the interest rate that will be earned for three months on a $9 million deposit to be made after seven months in September. The company decides to trade in Eurodollar futures and the September Eurodollar futures price is 98.50. Assume that in September the company closes out its position in the futures market when the LIBOR is 2.0% per annum and the futures price is 98.00. Assuming that the correct number of...

Nina's Fashions, Inc., operates a chain of retail clothing stores in Michigan, Wisconsin, and Illinois. The...

Nina's Fashions, Inc., operates a chain of retail clothing stores in Michigan, Wisconsin, and Illinois. The company has been in business since 1953, and until about 15 years ago, all of its stores were in older, downtown locations. However, in the late 1970s, the chain opened its first suburban store which differed significantly from the older stores. The new store was much larger, stocking many more items than the old stores. Many new stores followed, which were primarily located in...

You expect interest rates to continue to rise and you want to lock in the rate...

You expect interest rates to continue to rise and you want to lock in the rate you'll pay on a $50 million short-term loan you plan to take out at the beginning of the third quarter. You take a short position on the June Eurodollar contract, which settled at 97.775 today. Assume on June 18, when the contract expires, it settles at 97.545. Two weeks later you borrow the $50 million at the three-month LIBOR rate, which is at 2.468%....

Windy City Balloon Port ran a balloon launching facility in Illinois, offering sightseeing flights in hot-air...

Windy City Balloon Port ran a balloon launching facility in Illinois, offering sightseeing flights in hot-air and helium balloons owned by third parties. Windy City sold tickets for the balloon rides for $100 per person per ride. The pilot of the balloon would receive $60 directly from Windy City for each ticket sold. Although Windy City provided refueling and repair facilities for the balloons and canceled flights when weather conditions were unsafe, Windy City had no control over the flights...

Suppose that people arrive at a bus stop in accordance with a Poisson process with rate...

Suppose that people arrive at a bus stop in accordance with a Poisson process with rate λ. The bus departs at time t. 1. Suppose everyone arrives will wait until the bus comes, i.e., everyone arrives during [0, t] will get on the bus. What is the probability that the bus departs with n people aboard? 2. Let X be the total amount of waiting time of all those who get on the bus at time t. Find E[X]. (Hint:...

Patients arrive at the emergency room of Mercy Hospital at the average rate of 12 in...

Patients arrive at the emergency room of Mercy Hospital at the average rate of 12 in 60 minutes. what is the probability that 10 patients will arrive in 60 minutes? What is the probability that 4 patients will arrive in 30 minutes?

1. Patients are known to arrive at a pharmacy randomly, with an average rate of four...

1. Patients are known to arrive at a pharmacy randomly, with an average rate of four patients arriving per hour 1.1 What is a probability that exactly three patients will arrive at the pharmacy during a particular hour 1.2 What is the probability that only one patient will arrive at the pharmacy during a 30 minutes interval 1.3 What is the probability that seven patient will arrive at the pharmacy during a two hour interval 2. An aeroscape compagny has...

Clients arrive at a law office with a single lawyer at a rate of 2.5 per...

Clients arrive at a law office with a single lawyer at a rate of 2.5 per hour. The lawyer takes an average of 10 minutes with each client. Assuming that arrivals are Poisson distributed and the legal service time is exponentially distributed, answer the following questions: a.) Compute that answers for this problem using the first six queuing equations. b.) Service goals for this law office dictate that an arriving client should not have to wait more than an average...

Cars arrive at a parking lot at a rate of 20 per hour. Assume that a...

Cars arrive at a parking lot at a rate of 20 per hour. Assume that a Poisson process model is appropriate. Answer the following questions. No derivations are needed but justification of your answers are necessary. What assumptions are necessary to model the arrival of cars as a Poisson process? What is the expected number of cars that arrive between 10:00 a.m and 11:45 a. m? Suppose you walk into the parking lot at 10:15 a.m.; how long, on average,...

Question