Podunk University Operations Research Departmenthas two phone lines. An average of 30 people per hour tryto call the OR Department, and the average length of aphone call is 1 minute. If a person attempts to call whenboth lines are busy, he or she hangs up and is lost to thesystem. Assume that the time between people attempting tocall and service times is exponential.a What fraction of the time will both lines be free?What fraction of the time will both lines be busy? Whatfraction of the time will exactly one line be free?b On the average, how many lines will be busy?c On the average, how many callers will hang up eachhour?

Q: snip

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.