A car repair shop has two hoists where cars can be lifted for repair work. Currently customers come in at the rate of 4 per hour and are processed at a similar rate. On average 8 cars are waiting to be processed, 4 needing routine repairs and 4 needing major repairs. People are served on a first come first serve basis. Now: The repair shop owner feels that he is losing many customers needing routine repair because of the long wait. He dedicates one hoist for routine repair and one for major repairs. A study indicates that routine repairs are processed at the rate of 3 per hour and major repairs at the rate of 1 per hour. There are now 5 people waiting on average for routine repairs and 3 waiting on average for major repairs. With the new system, what is the average waiting time over all customers

Answers

Answer 1
Answer:

The cars will wait an average of 1.67 hours before being served at routine repairs while they'll wait an average of 3 hours before being served at major repairs.

From the information given, at the routine repair hoist, 5 people waiting on average and the cars are processed at a rate of 3 per hour, therefore the flow time (T) will be:

= I/R = 5/3 = 1.67 hours.

Also, at the major repair hoist, 3 people wait on average and the cars are processed at a rate of 1 per hour. Therefore, the Flow time (T) will be:

= I/R = 3/1 = 3 hours.

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Answer 2
Answer:

Answer:

The Cars wait an average of 1.67 hours before being served at routine repairs.

The Cars wait an average of 3 hours before being served at major repairs.

Explanation:

At the routine repair hoist, 5 people waiting on average hence the Inventory (I) = 5 cars. The cars are processed at a rate of 3 per hour, hence the Throughput (R) = 3 cars per hour.

Therefore the Flow time (T) = I/R = 5/3 = 1.67 hours.  

The Cars wait an average of 1.67 hours before being served at routine repairs.  

 

At the major repair hoist, 3 people waiting on average hence the Inventory (I) = 3 cars. The cars are processed at a rate of 1 per hour, hence the Throughput (R) = 1 cars per hour.

Therefore the Flow time (T) = I/R = 3/1 = 3 hours.  

The Cars wait an average of 3 hours before being served at major repairs.


Related Questions

Which of the following statements is NOT one of the differentiation strategy​ decisions? A. Modular design to aid product differentiation. B. Gather and communicate market research data. C. Use buffer stocks to ensure speedy supply. D. Minimize inventory to avoid product obsolescence.
An internal control system is used to do which of the following:a. Protect Assetsb. Prevent all lossesc. Ensure reliable accountingd. Control the entry operation
When do you need to apply for program completion and review? a couple of weeks before program completion 1-2 semesters before program completion Never, you don’t need to complete any paper work to prepare for program completion one month before program completion
Which of the following best describes the primary role of auditors in financial reporting? A. Consultants that are hired by company management to advise on key matters related to competition, product pricing, employee retention, and financial reporting strategies. B. Key employees of the company that actively participate on the management team in strategic planning, product development, and financial reporting. C. Government employees assigned by local officials to ensure accurate financial reporting and operational integrity by the company. D. Independent party hired by management to express a professional opinion of the extent to which the company's financial reporting is in compliance with generally accepted accounting principles
Which of the following is not an important question to ask when developing a data collection plan?a. Who will be responsible for collecting the data?b. What is the source of the data?c. What is the reason for collecting the data?d. Is it possible to make decisions without collecting data?

A decrease in the wage rate of pizza makers will cause a movement from Point B on supply curve Upper S 2 to ______________.A. Point A on supply curve Upper S 2.
B. supply curve Upper S 1.
C. Point C on supply curve Upper S 2.
D. supply curve Upper S 3.

Answers

Answer:

D. supply curve Upper S 3

Explanation:

Final answer:

A decrease in the wage rate of pizza makers will result in a movement from Point B to Point C on supply curve Upper S 2. This is because the decrease in production cost (with the wage rate falling) allows more pizza to be supplied at the same price.

Explanation:

The subject of your question relates to the supply curve within the field of Economics. A supply curve illustrates how the quantity of a good supplied by producers responds to a change in price. In this case, we are considering a decrease in the wage rate of pizza makers, which is a cost of production. According to the law of supply, if the cost of production decreases, it will cause an increase in the quantity supplied. Therefore, a decrease in the wage rate of pizza makers will move us from Point B to Point C on the same supply curve i.e. on supply curve Upper S 2. This is because Point C will represent a higher quantity of pizza being supplied at the same price, as lower wage rate improves the profitability of producing pizzas.

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In the context of using information technologies for a competitive advantage, which statement is true of a top-line strategy? a. It focuses on generating new revenue by offering new products and services. b. It focuses on improving efficiency by reducing overall costs. c. It focuses on helping different market segments achieve technological advancement. d. It focuses on refining operations by using latest technologies.

Answers

Answer:

a. It focuses on generating new revenue by offering new products and services.

Explanation:

An information system or technology can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products. Thus, an information system or technology interacts with its environment by receiving data in its raw forms and information in a usable format.

Information technology is an integral part of human life because individuals, organizations, and institutions rely on information technologies in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.

Additionally, an information system comprises of five (5) main components;

1. Hardware.

2. Software.

3. Database.

4. Human resources.

5. Telecommunications.

Hence, in the context of using information technologies for a competitive advantage over rivals in the industry, the statement which is true of a top-line strategy is that, it focuses on generating new revenue by offering new products and services. The top-line strategy ensures that the company continues to generate gross revenue or sales.

This year Barney purchased 500 shares of Bell common stock for $20 per share. At year-end the Bell shares were only worth $2 per share. What amount can Barney deduct as a loss this year

Answers

Answer:

Barney is not entitled to a loss deduction.

Explanation:

Barney is not qualified for a loss deduction. Barney cannot have any realization because the stock has not been sold or become worthless. If Barney's stock becomes worthless then generally he may deduct its tax basis in the stock as a worthless stock loss for the year in which the stock becomes worthless.

On January 1, 2016, Jacob Inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truck has a useful life of eight years and an estimated residual value of $8,000. On December 31, 2017, Jacob Inc. sold the truck for $43,000. What amount of gain or loss should Jacob Inc. record on December 31, 2017? A. Gain, $22,000.
B. Gain, $5,000.
C. Loss, $3,000.
D. Loss, $18,000.

Answers

Answer:

The correct answer is B: gain $5000

Explanation:

Giving the following information:

On January 1, 2016, = commercial truck for $48,000.

straight-line depreciation method.

useful life of eight years.

residual value of $8,000.

On December 31, 2017, Jacob Inc. sold the truck for $43,000.

Depreciation expense per year= (Purchase value - residual value)/8

Depreciation expense per year= (48000-8000)/8=5000

Accumulated depreciation year 2= 5000*2= 10000

To calculate the gain or loss we need to use the following formula:

Gain/loss= price value - book value

Gain/loss= price value - (purchase price - accumulated depreciation)

Gain/loss= 43000 - (48000- 10000)= 5000 gain

Case Description Tablets have become an ubiquitos part of our lives. The first models were launched in US in the year 2010.
Sales data is available for the first seven years (See below). As part of your analysis on the outlook for this industry:
a) How would you characterize the future for tablets? Are consumers crazy about this technology or are luke warm?
b) Prepare a five year forecast for this industry; has the market reached its peak (please identify the demand peak).

Please use the Bass Model Estimator provided. Use the spreadsheet tab called "Analysis Report"
Please clearly provide market size assumptions and justifications.
Year Annual Sales (Units Sold)
2010 3,000,000
2011 10,000,000
2012 25,000,000
2013 34,000,000
2014 39,000,000
2015 45,000,000
2016 51,000,000

Answers

Answer:

a) According to the published sales statistics, it appears that the initial release of tablets in 2010 was warmly accepted by customers, since sales increased quickly in the years that followed. With only a 13% rise in revenue from 2015 to 2016, the rate of growth has slowed recently. This shows that customer enthusiasm for the technology may be waning.

b) We will utilize the Bass Model Estimator available on the "Analysis Report" page to project sales over the following five years. The "coefficient of innovation" (p) of this model accounts for the number of customers who have embraced the technology as well as the number of potential consumers who have not yet adopted the technology but may be persuaded to do so.

Explanation:

Global strategic planning is a primary function of a company's managers, and the process of strategic planning provides a formal structure for undertaking this process. Companies are confronting a set of environmental forces that are increasingly complex, global, and subject to rapid change. In response, many international firms have found it necessary to institute formal global strategic planning to provide a means for top management to identify opportunities and threats from all over the world, formulate strategies to handle them, and stipulate how to finance and manage the implementation of these strategies? Drag the following stat ogic pianning steps into the ordor in which they typicaliy occur, from first to last.1. Quanbry goals 2. Formulatc strategic3. External analysis4. Set ojectives 5. Intemal Analysis 6. Tactical planning 7. Define busines

Answers

1. External analysis

2. Internal analysis

3. Define business

4. Set objectives

5. Quantify goals

6. Formulate strategies

7. Tactical planning

The following information should be considered:

Global Strategic Planning happens in the following 7 stages;

  • External Analysis : Here the  business's external Environment should be scanned.
  • Internal Analysis: In this, it shows the strengths, weakness, it's customers and value chain
  • Define Business: Reason for existence, objective, aims, etc
  • Set Objectives: Here the company should set objectives for what they want the company to do in the global Environment.
  • QuantifyGoals: Here the company attempts to quantify
  • Formulate Strategie: strategies for implement it's goals should then be formulated.
  • TacticalPlanning: The plans that will ensure the success of the strategic goals are then made.

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Answer:

1. External analysis

2. Internal analysis

3. Define business

4. Set objectives

5. Quantify goals

6. Formulate strategies

7. Tactical planning

Explanation:

Global Strategic Planning happens in the following 7 stages;

1. External Analysis

Scan the business's external Environment and identify the opportunities presented or the threats posed by outside forces to the company.

2. Internal Analysis

Then it is time to look into the company and find out it's strengths, weakness, it's customers and value chain,  and what sets it apart from others. In other words, what is the Differentiation factor that it has over other companies.

3. Define Business

What is the company's reason for being in existence. What are the objectives and aims of the business and who is it targeting. Why is it targeting them. This is where those Important questions are asked so that one might know why the business exists.

4. Set Objectives.

Here the company should set objectives for what they want the company to do in the global Environment. How the company should be positioned and what the strategic goals are.

5. Quantify Goals

Here the company attempts to quantify or properly express the goals that they hope to achieve in the globe so make it less complicated.

6. Formulate Strategies

Based on what the company has researched and analyzed about itself and the external Environment, strategies for implement it's goals should then be formulated.

7. Tactical Planning

After the Strategic goals have been made, the Tactical Planning is next. This is when the plans that will ensure the success of the strategic goals are then made. These are more short term in nature unlike the strategies that are long term.