Application of Queuing Theory in Banking Systems
Student: Ridwan Olasunkanmi Ogunjimi (Project, 2025)
Department of Applied Mathematics With Statistics
Federal University Oye-Ekiti, Ekiti State
Abstract
ABSTRACT In this study, the investigation of the waiting time in queue of United Bank of Africa, Oye Ekiti branch was investigated. Using M/M/1 model, a queuing model was formulated after taking the records of the queue management system of the study area for 30 days. The study indicates that the banking system has a capacity of 7650 customers. The average arrival rate (λ) is 51.03 customers per hour, while the average service rate (μ) is 45.13 customers per hour. The study also indicates that the current banking service system at the United Bank of Africa, Oye Ekiti branch is operating above its capacity, leading to significant waiting times for customers.
Keywords
For the full publication, please contact the author directly at: ogunjimi.ridwan.191062@fuoye.edu.ng
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Institutions
- Abdul-Gusau Polytechnic, Talata-Mafara, Zamfara State 3
- Abia State Polytechnic, Aba, Abia State 24
- Abia State University, Uturu, Abia State 71
- Abraham Adesanya Polytechnic, Ijebu-Igbo, Ogun State 3
- Abubakar Tafawa Balewa University, Bauchi, Bauchi State 15
- Abubakar Tatari Ali Polytechnic, Bauchi State. (affiliated To Atbu Bauchi) 1
- Achievers University, Owo, Ondo State 6
- Adamawa State University, Mubi, Adamawa State 8
- Adekunle Ajasin University, Akungba-Akoko, Ondo State 26
- Adeleke University, Ede, Osun State 1