Altug's Coffee Shop decides to install an automatic coffee vending machine outside one of its stores to reduce the number of people standing in line inside. Mehmet Altug charges $\$3.50$ per cup. However, it takes too long for people to make change. The service time is a constant 3 minutes, and the arrival rate is 15 per hour (Poisson distributed).

What is the average number of people in line?

Calls arrive at Lynn Ann Fish's hotel switchboard at a rate of 2 per minute. The average time to handle each is 20 seconds. There is only one switchboard operator at the current time. The Poisson and negative exponential distributions appear to be relevant in this situation.

What is the probability that the operator is busy?

Calls arrive at Lynn Ann Fish's hotel switchboard at a rate of 2 per minute. The average time to handle each is 20 seconds. There is only one switchboard operator at the current time. The Poisson and negative exponential distributions appear to be relevant in this situation.

What is the average time that a customer must wait before reaching the operator?

Calls arrive at Lynn Ann Fish's hotel switchboard at a rate of 2 per minute. The average time to handle each is 20 seconds. There is only one switchboard operator at the current time. The Poisson and negative exponential distributions appear to be relevant in this situation.

What is the average number of calls waiting to be answered?

Define ethics and business ethics

How can employee empowerment and ownership increase motivation?

What are the different forms of co-ownership of real property?

Collaborate on a Business Plan Working with a group of classmates, brainstorm ideas for new businesses you believe would be successful As a group, choose one business idea and work together to write a business plan. Include the name of the business, a description of the good or service it provides, and all the capital and business property, such as vehicles, office space, computers, and tools, that you will need for your business. Assign roles and present your business plan to the class as a group. When all business plans have been presented, the class will vote on which business has the best chance of succeeding based on the information provided

A small business invests $8000 to produce a new candy bar. Each bar costs$1.20 to produce and sells for $2.00. How many candy bars must be sold before the business breaks even?

What are some methods of acquiring ownership of personal property?

Which of the following is true of franchising? Multiple Choice

A. There is no difference in the risk of buying a franchise and buying an existing business.

B. Franchising is viewed as a new business entrepreneur's creation of a business from scratch.

C. The purchase of a well-honed, thoughtfully positioned franchise con dramatically decrease the downside

Santana Rey created Business Solutions on October 1, 2017. The company has been successful, and Santana plans to expand her business. She believes that an additional $86,000 is needed and is investigating three funding sources. a. Santana’s sister Cicely is willing to invest$86,000 in the business as a common shareholder. Since Santana currently has about $129,000 invested in the business, Cicely’s investment will mean that Santana will maintain about 60% ownership and Cicely will have 40% ownership of Business Solutions. b. Santana’s uncle Marcello is willing to invest$86,000 in the business as a preferred shareholder. Marcello would purchase 860 shares of $100 par value, 7% preferred stock. c. Santana’s banker is willing to lend her$86,000 on a 7%, 10-year note payable. She would make monthly payments of $1,000 per month for 10 years. 1. Prepare the journal entry to reflect the initial$86,000 investment under each of the options (a), (b), and (c). 2. Evaluate the three proposals for expansion, providing the pros and cons of each option. 3. Which option do you recommend Santana adopt? Explain.

What are the basic ownership rights of common stockholders?

Sol and Tom have been running their business as a corporation for a decade. It has grown so much it is difficult to keep up with all the work. One day Sol mentions they could hire professional managers to run the business and live on the dividends from their stock ownership. Tom thought about this and said, “just because we want to hire a professional manager doesn’t mean we could find one to work for us.” “Actually, we’re in the right business form to attract a good one,” replied Sol. Is he correct?