What are some key formulas in queue theory?

What are some key formulas in queue theory?

Queue theory involves several important formulas. One key formula is Little's Law, which states that L = λW, where L is the average number of items in the system, λ is the arrival rate, and W is the average time an item spends in the system.

Can you explain Little's Law in more detail?

Sure! Little's Law provides a relationship between the number of items in a queue, the arrival rate of items, and the time they spend in the queue. It applies to stable systems where the average arrival rate equals the average departure rate.

What other formulas should I know?

Other important formulas include the utilization factor (ρ = λ/μ), where μ is the service rate, and the average number of customers in the queue (Lq = ρ² / (1 - ρ)) for M/M/1 queues.

How do I apply these formulas in real-world scenarios?

You can apply these formulas to optimize service systems, like call centers or checkout lines, by analyzing arrival rates and service times to reduce wait times.