Final answer:
For a dynamic round robin scheduling procedure that aims to prevent any process from waiting longer than 500 ms, the time quantum q should be set to 500ms divided by the number of processes n.
Step-by-step explanation:
The concept of a dynamic round robin scheduling algorithm implies that the time quantum is changed based on some condition. In this case, the idea is to ensure that no process waits longer than 500 milliseconds to prevent any process from starving or waiting too long for CPU time. If there are n processes ready to execute, to achieve this goal the time quantum q should typically be set to 500ms divided by the number of processes n. Therefore, the time quantum q is set to 500ms/n. However, it's worth noting that this formula assumes that context switching time is negligible. If context switches are not negligible, the time for a context switch should be subtracted from the 500ms before dividing by n to get the true quantum time.