A company has a piece of equipment that is broken. The company loses $500 a day for each day the equipment remains broken. There is a repair shop where this equipment can be fixed. The shop charges $800 to fix the equipment. It receives requests for service from an average of 3 customers per day and the average repair time at this shop is .25 days. Assume that shop can be modeled as an M/M/1 queuing process
a) Find the expected amount of time it will take to get the equipment repaired
b) Use your answer in A to determine the company's expected overall expense, including the repair bill and the downtime cost.