1. Discuss advantages and disadvantages to private transportation.
2. The Krasnapolski is a top-of-the-line hotel in Amsterdam, the Netherlands. Among their many services, they rent bicycles to guests who arrive randomly throughout the day. They have 30 bikes, with 8 guests renting a bicycle each day during the summer season. Guests keep bicycles for three days on average, with a standard deviation of three days. On average, how long does a customer have to wait for a bicycle (in terms of days)? Please provide a process flows diagram as well.
A) 80%
B) 3.11 days
C) 0.05 days
D) 0.11 days
3. According to the Cash Flow Cycle, is it possible to receive payments for goods you sell before paying for the raw materials used to produce those goods?
A) Yes, as long as the time in inventory is minimized, and your customers pay you quicker than you pay your suppliers
B) No, this is impossible and is called the "Cash Flow Cycle Conundrum"
C) No, but you could receive payments on the same day you need to pay for the raw materials
D) Yes, as long as your inventory is always as close to 0 as possible