Business, 28.11.2019 00:31 sindy35111

Jo, owner of java jo's coffee shop, recently purchased a new vending machine. this automated machine can serve a fresh cup of coffee to a customer in exactly 2 minutes. after purchasing the machine, jo raised the price of coffee to $2.50 per cup, and noticed that customers arrived at the rate of about 14 per hour (poisson distribution). how long should a customer expect to wait to get a cup of coffee? (rounded to 3 decimal places) what is the average number of customers waiting in the line? (rounded to 2 decimal places) jo's supplier has offered to upgrade the vending machine's software, decreasing the time to make a cup of coffee from 2 minutes down to 1 minute and 30 seconds. this would also result in jo raising prices (to offset the cost of the upgrade) to $3 per cup, which in turn would decrease the arrival rate to 12 customers per hour. in this scenario, how long would a customer expect to wait to get a cup of coffee? (rounded to 3 decimal places) what would be the average number of customers waiting in the line? (rounded to 2 decimal places)

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Jo, owner of java jo's coffee shop, recently purchased a new vending machine. this automated machine...

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