How can queue theory be applied to optimize service systems?
Queue theory helps analyze waiting lines to improve service efficiency, reduce wait times, and enhance customer satisfaction.
Can you give me an example of a real-world application?
Sure! In a bank, queue theory can optimize teller service by predicting peak times and adjusting staff accordingly.
What are some key metrics used in queue theory?
Key metrics include arrival rate, service rate, queue length, and waiting time, which help assess system performance.
How do I calculate the average wait time in a queue?
You can use the formula W = L / λ, where W is the average wait time, L is the average number of customers in the system, and λ is the arrival rate.
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