BA341 18th Edition Lecture 18 Outline of Last Lecture I. Performance Metrics for M/M/1II. Waiting-Line with multiple serversIII. Solution via QCalcOutline of Current LectureIV. Ch. 7(S) – Break-even AnalysisV. QM A – Decision-Making ToolsVI. Module D - Waiting Line Analysis (Queueing)Current LectureExam 3, Wednesday November 5thReview TopicsCh. 7(S) - Break-even analysis- Single-product BEP in units and dollars - Use single-product BEP approach to choose between alternatives, given a certain level ofcustomer demand- Multi-product BEP in dollars, ability to find the sales/volume for a given product at BE QM A – Decision-Making Tools- Decision Trees (DT)o Alternatives and states of nature Reading & building a payoff (decision) table Reading Decision Treeso Decision-making under Uncertainty Identifying the best decision based on the following methods: - MaxiMax- MaxiMin- Equally likelyThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Decision-making under Risk Computing the EMV of a decision alternative Identifying the best decisionModule D - Waiting Line Analysis (Queueing)- M/M/1 Queueing Systemso Single servero Infinite populationo Poisson arrivals (λ) o Exponentially distributed service times (ts) [ service rate µ=1/ts ]o FIFO (First In First Out)o Required: λ<µ - if is the opposite waiting line would be too long to withstandModule D - Waiting Line Analysis (Queueing) - continued- M/M/1 (single-server) Queueing Systems- Inputs – arrival (λ) and service (µ) rateso Measured as jobs/time unit- Outputso server utilization (ρ) o average time in system (Ws), in queue (Wq), and in service (ts) – all these are measured in time unitso average number in system (Ls), in queue (Lq), and receiving service (i.e., ρ) – all these are measures in units, e.g., customers, jobs, parts, etc.o Probability of the server being busy (or idle)o Probability that an arriving customer finds the system empty- The questions about multiple
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