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
- Osun State College of Education, Ila-Orangun(Aff To Ekiti State Uni), Osun State 1
- Osun State College of Education, Ilesa, Osun State. (affl To Univ of Ibadan) 2
- Osun State Polytechnic, Iree, Osun State 467
- Osun State University, Osogbo, Osun State 11
- Our Saviour Institute of Science and Technology (polytechnic) Enugu, Enugu State 1
- PAN-ATLANTIC UNIVERSITY, KM 52 LEKKI-EPE EXPRESSWAY, IBEJU-LEKKI, LAGOS STATE. 14
- Paul University, Awka, Anambra State 2
- Petroleum Training Institute, Effurun, Delta State 1
- Precious Cornerstone University, Ibadan, Oyo State 1
- Prince Abubakar Audu University, Anyigba 30