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
- UMA UKPAI SCHOOL OF THEOLOGY, UYO, AKWA IBOM STATE (AFFL TO UNIVERSITY OF UYO) 1
- Umaru Ali Shinkafi Polytechnic, Sokoto, Sokoto State 24
- Umaru Musa Yaradua University, Katsina, Katsina State 28
- Umca, Ilorin (Affiliated To University of Ibadan), Kwara State 1
- University of Abuja, Abuja, Fct 117
- University of Africa, Toru-Orua, Bayelsa State 4
- University of Benin, Benin City, Edo State 362
- University of Calabar Teaching Hospital School of Health Information Mgt. 1
- University of Calabar, Calabar, Cross River State 240
- University of Ibadan, Ibadan, Oyo State 14