Suppose that annually an average of l library patrons want to borrow a book. A patron borrows the book for an average of 1/μ years. Suppose we observe that the book is actually borrowed an average of R times per year. Explain how we can estimate λ, which is an unobservable quantity. (Hint: Let U be the expected number of times per year a patron wants to borrow the book and the book is out. Note that λ = R + U.)

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter12: Queueing Models
Section12.5: Analytic Steady-state Queueing Models
Problem 9P
icon
Related questions
Question

Suppose that annually an average of l library patrons want to borrow a book. A patron borrows the book for an average of 1/μ years. Suppose we observe that the book is actually borrowed an average of R times per year. Explain how we can estimate λ, which is an unobservable quantity. (Hint: Let U be the expected number of times per year a patron wants to borrow the book and the book is out. Note that λ = R + U.)

Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Inventory management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,