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
- AVE-MARIA UNIVERSITY, PIYANKO, NASARAWA STATE 1
- Babcock University, Ilishan-Remo, Ogun State 7
- Bamidele Olumilua University of Edu. Science and Tech. Ikere Ekiti, Ekiti State 455
- Bauchi State College of Agriculture, Bauchi, Bauchi State 1
- Bauchi State University, Gadau, Bauchi State 16
- Bayelsa State Polytechnic, Aleibiri, Bayelsa State 13
- Bayero University, Kano, Kano State 586
- Benue State Polytechnic, Ugbokolo, Benue State 10
- Benue State University, Makurdi, Benue State 47
- Bingham University, Karu, Nasarawa State 3