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
- Ekiti State University 58
- Ekiti State University, Ado-Ekiti, Ekiti State 881
- Elizade University, Ilara-Mokin, Ondo State 100
- Emmanuel Alayande College of Education, Oyo. (affl To Ekiti State Univ) 2
- Enugu State Polytechnic, Iwollo, Enugu State 4
- Enugu State University of Science and Technology, Enugu, Enugu State 29
- Evangel University, Akaeze, Ebonyi State 2
- FCT COLLEGE OF EDUCATION, ZUBA ,( AFFILIATED TO ABU, ZARIA), FCT-ABUJA 5
- Federal College of Agricultural Produce Tech, Hotoro Gra Ext, Kano, Kano State 2
- Federal College of Educ. (Special), Oyo, Oyo State (Aff To Uni. Ibadan) 10