Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Nov 2017 My Price 5.00

Philadelphia taxi driver

A Philadelphia taxi driver gets new customers at rate 1/5 per minute. With probability 1/3 the person wants to go to the airport, a 20-minute trip. After waiting in a line of cabs at the airport for an average of 35 minutes, he gets another fare and spends 20 minutes driving back to drop that person off. Each trip to or from the airport costs the customer a standard $28 charge (ignore tipping). While in the city fares with probability 2/3 want a short trip that lasts an amount of time uniformly distributed on Å’2; 10 minutes and the cab driver earns an average of $1.33 a minute (i.e., 4/3 of a dollar). (a) In the long run how much money does he make per hour? (b) What fraction of time does he spend going to and from the airport (inducing the time spent in line there)?

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Nov 2017 08:11 PM My Price 5.00

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