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
- Federal University, Lokoja, Kogi State 1
- Federal University, Otuoke, Bayelsa State 20
- Federal University, Wukari, Taraba State 5
- Fidei Polytechnic, Gboko, Benue State 1
- First Technical University, Ibadan, Oyo State 2
- Fountain University, Osogbo, Osun State 20
- Gateway Ict Polytechnic, Saapade, Ogun State 9
- Godfrey Okoye University, Urgwuomu- Nike, Enugu State 4
- Gombe State University, Tudun Wada, Gombe, Gombe State 18
- Hallmark University, Ijebu-Itele,ogun State 1