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
- Isa Mustapha Agwai I Polytechnic, Lafia, Nasarawa State 2
- Jigawa State Polytechnic, Dutse, Jigawa State 4
- Joseph Sarwuan Tarka University, Makurdi, Benue State 17
- Kaduna Polytechnic (NCE), Kaduna, Kaduna State 2
- Kaduna Polytechnic, Kaduna 330
- Kaduna Polytechnic, Kaduna , Kaduna State (affl To Fed Univ of Tech, Minna) 6
- Kaduna State College of Education, Gidan-Waya (affliatted To Abu) 2
- Kaduna State University, Kaduna, Kaduna State 247
- Kano State Polytechnic, Kano, Kano State 196
- Kano University of Science and Technology, Wudil, Kano State 6