Using an M/M/1 queuing system as an example demonstrate how the event list in a simulation model would evolve over 5 discrete steps if the first part will arrive at time zero, the time between the next four arrivals are 3, 5, 6, and 4 minutes and that the machining times for the first five parts are 6, 4, 3, 5, and 4 minutes. The performance metrics of interest are the average queue length and the number of items processed.

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Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.