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
application queuing theory banking systems
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