1. You just landed a job that pays you $85,000 but you also receive free tuition for your 3 children. The tuition is $47,000.00 a year and it is tax exempt. If you are in the 28% tax bracket and you utilize this benefit for all 2 of your children for the 4 years they are in college. What is the value of this benefit?
2. Mike's television repair service receives an average of six TV sets per eight-hour day to be repaired. The service manager would like to be able to tell customers that they can expect oneday service. What average repair time per set will the repair shop have to achieve to provide oneday service on the average? (Assume that the arrival rate is Poisson distributed and repair times are exponentially distributed)
3. As part of a rapidly growing firm located in the US, your CEO has asked you to find out more about US requirements for exporting. Using the following link, Export.Gov, describe what you find about common export documentation. Select at least one of the documents and describe its purpose in greater detail.