Introduction to Operations Research

Queuing theory

Queuing theory is a mathematical study of waiting lines. It’s a tool to make business decisions about the resources provided for services. It has applications in banks, servicing of machines, airports, restaurants etc. Queuing models suggests ways and means to improve the efficiency of the services. Its objective is to find out the optimum service rate and the number of servers so that the average cost of being in queuing system and the cost of service are minimsed.