A bank with one teller has customers arrive randomly an, Operation Management

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A bank with one teller has customers arrive randomly an

A bank with one teller has customers arrive randomly an average of 15 minutes apart. The teller can serve a customer in an average of 12 minutes, exponentially distributed.

Find the exact values for the following per hour showing work:

a. λ (Lambda: arrival rate)

b. μ (Mu: service rate)

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