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  1. Study with Quizlet and memorize flashcards containing terms like 1) Assume that we are using a waiting line model to analyze the number of service technicians required to maintain machines in a factory. Our goal should be to A) maximize productivity of the technicians. B) minimize the number of machines needing repair.C) minimize the downtime for individual machines.D) minimize the percent of ...

  2. Study with Quizlet and memorize flashcards containing terms like Understanding opportunity cost: Before you started applying for college, a job recruiter offered you a full-time cashier position at a local retail store, earning an after-tax salary of $21,000 per year. However, you turn down this offer and attend your first year of college. The additional monetary cost of college to you ...

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