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)

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

Retirement investment advisors, inc., has just offered you an annual interest rate of 4.4 percent until you retire in 40 years. you believe that interest rates will increase over the next year and you would be offered 5 percent per year one year from today. if you plan to deposit $13,000 into the account either this year or next year, how much more will you have when you retire if you wait one year to make your deposit?