A single-bay car wash with a Poisson arrival rate and an exponential service time has cars arriving at an average of 10 minutes apart with an average service time of 4 minutes. What is the system utilization?

Jaycee Auto Repair has the following budgeted costs for the next year:

Time Charges Material Charges Shop employees' wages and benefits $120,000 $- Parts manager's salary and benefits - 45,000 Office employee's salary and benefits 30,000 15,000 Other overhead 15,000 40,000 Invoice cost of parts and materials - 400,000 Total budgeted costs $165,000 $500,000 The labor rate to be used next year assuming 7,500 hours of repair time and a profit margin of $25 per labor hour is a) $22. b) $43. c) $41. d) $47.

Translation of foreign currency financial statements is the process of restating foreign currency financial statements from one currency into another

Indicate whether the statement is true or false