Minimizing the cost of waiting line


Problem 1) A goal of many waiting line problems is to help a firm find the ideal level of services that minimize the cost of waiting and the cost of providing the service. True or False

Problem 2) One difficulty in waiting line analysis is that it is sometimes difficult to place a value on customer waiting time. True or False

Problem 3) An "infinite calling population" occurs when the likelihood of a new arrival does not depend on the number of past arrivals. True or False

Problem 4) The term queue discipline describes the

A degree to which members of the queue renege.
B sequence in which members of the queue arrived.
C degree to which members of the queue are orderly and quiet.
D sequence in which members of the queue are serviced.
E all of the above

Problem 5) Simulation of a business or process is generally performed by building a mathematical model to represent the process or system. True or False

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Microeconomics: Minimizing the cost of waiting line
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