Graduated Payment Mortgage - HP 12c Solutions Handbook

Queuing and Waiting Theory
• n = number of servers.
• = arrival rate of customers (Poisson input).
• = service rate for each server (exponential service).
• = Intensity factor =
• P = Probability that all servers are idle.
0
• P = Probability that all servers are busy.
b
• L = Average number of customers in queue.
q
• L = Average number of customers in the system (waiting and being
served).
• T = Average waiting time in queue.
q
• T = Average total time through the sytem.
• P(t) = Probability of waiting longer than time t.
•
n 1
∑
P =
0
k
•
n
P = ----------------------- -
b

n! 1

•
•
P
b
L = ----------- -
q
n –
• P(t) = P e
b

Graduated Payment Mortgage

/ ( , n for valid results).
–
n
k
----- + ----------------------- -
k!
 
-- -
n! 1 –
 
n
= 0
P
0

-- -
–

n
L = L +
T = L /
q
-(n t
-
– 1
L
q
T = ----- -
q
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