The wizard computer company purchases 5000 hard drives per year for use in its computers. Each order costs $70. The inventory holding cost is 25% of the unit price. the supplier has provided the following price list.
Order quantity Price per unit
1-499 $50
500-649 $45
650 and above $42.50
Consider a situation where the mean arrival rate is one customer every 4 minutes and the mean service time is two and a half minutes. Calculate;
i. The average number of customers in the system
ii. Average queue length
iii. Average a customer spends in the system
iv. Average time a customer waits before being served (6mks).
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