Ch 4: Waiting Line Models & Queueing Theory

About This Chapter

Decipher how big and small organizations handle waiting line problems by viewing these video lessons. Find the pertinent formulas discussed in the transcripts and practice applying them to waiting line models and other theories.

Waiting Line Models & Queueing Theory - Chapter Summary and Learning Objectives

Without competent and friendly customer service, businesses risk losing their clientele, which is why waiting line models and queueing theory have become such a prominent focus for certain industries. To better understand the ins and outs of queuing in a line, use our video lessons as a training guide to help you learn the different factors involved in these theories. As you make your way through the chapter, you will become more knowledgeable about the following:

  • Situations that cause waiting line problems
  • The impact of poorly managed waiting lines on businesses
  • Applying queueing theory to waiting line systems
  • Waiting line models
  • Financial costs linked to waiting line problems
  • Formulas associated with solving waiting line issues

Video Objective
Waiting Line Problems: Where They Occur & Their Effect on Business Point out the places that these problems happen and elaborate on how these issues significantly impact the professional world.
The Structure of a Waiting Line System & Queueing Theory in Business Distinguish between the different types of waiting lines, go over the waiting line system structure, establish the components of the queuing system, review the Poisson distribution, and define the following terms: LCFM, FCFS, and SME.
Using Formulas to Identify Operating Characteristics of Waiting Line Models Consider the use of Little's flow equations when examining the operating characteristics found within different types of waiting line models.
The Business Economics of Waiting Lines Show the correlation between waiting line operation decisions and economic concerns.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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