ACCOUNTING AND FINANCIAL ENGINEERING - EXAMPLE 34.4 : A university is enrolling new students of biochemical engineering degree. A long queue is formed during registration. Let L = rate of newcomers to a queue, m = number of clients served at a certain time, T = time in system. In M / M / 1 queue, let T = time waiting in a queue + service time, L = 2 / second, m = 3 / second. (a) Find the service time, A = 1 / m. (b) Calculate time waiting in a queue, B = A (L / m) / (1 - L / m). (c) What is the value of T?

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