Queuing problem of a Bank Ⅰ Introduction& problem definition The queue phenomenon in the banking offices is either a normal or a boring issue that should be solved properly in order to keep the clientele resources. The student always lined up in school campus bank. It is a familiar phenomenon in PolyU daily. In operational research‚ the queuing theory is a very popular topic. It is widely used in some industries‚ such as computer network‚ logistics industry etc.(Wikipedia‚ 2013). There is a series
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Problem 1 A gas station with only one gas pump employs the following policy: if a customer has to wait‚ the price is $3.50 per gallon; if they don’t have to wait‚ the price is $4.00 per gallon. Customers arrive according to a Poisson process with a mean rate of 20 per hour. Service times at the pump have an exponential distribution with a mean of 2 minutes. Arriving customers always wait until they can by gasoline. Determine the expected price of gasoline per gallon. Problem 3 The Old Colony theme
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checkout at a supermarket‚ or waiting to make a bank deposit. Queuing theory‚ started with research by Agner Krarup Erlang‚ is used to examine the impact of management decisions on these waiting lines (Anderson et.al‚ 2009). A basic Queuing Model structure consists of three main characteristics‚ namely behaviour of arrivals‚ queue discipline‚ and service mechanism (Hillier and Lieberman‚ 2001). In this assignment‚ New England Foundry’s queuing problem will be solved in Excel‚ and then‚ time and cost
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QUEUING THEORY INTRODUCTION Waiting lines are the most frequently encountered problems in everyday life. For example‚ queue at a cafeteria‚ library‚ bank‚ etc. Common to all of these cases are the arrivals of objects requiring service and the attendant delays when the service mechanism is busy. Waiting lines cannot be eliminated completely‚ but suitable techniques can be used to reduce the waiting time of an object in the system. A long waiting line may result in loss of customers to an organization
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A study of queuing system Queueing theory is the mathematical study of waiting lines‚ or queues. The theory enables mathematical analysis of several related processes‚ including arriving at the (back of the) queue‚ waiting in the queue (essentially a storage process)‚ and being served at the front of the queue. The theory permits the derivation and calculation of several performance measures including the average waiting time in the queue or the system‚ the expected number waiting or receiving service
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DEPARTMENT OF MANAGEMENT INFORMATION SYSTEM (MIS) Masters of Business Administration (EMBA) Subject: Management Science (EMIS 517) Queuing Theory and The use of Queuing Theory of BFC Bangladesh” Supervised By : Md. Abdul Hannan Mia B. Com.(Hons)‚ M.com‚ PGD‚ MSc‚ MBA‚ FCMA‚ Ph.D. Prepared By: 1. Abdul Mannan Mian ID NO: 61428-21-044 Merit: 519 2. Mehedi Hasan
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Waiting Line System Queuing Systems Queuing System Input Characteristics Queuing System Operating Characteristics Analytical Formulas Single-Channel Waiting Line Model with Poisson Arrivals and Exponential Service Times Multiple-Channel Waiting Line Model with Poisson Arrivals and Exponential Service Times Economic Analysis of Waiting Lines Slide 1 Structure of a Waiting Line System Queuing theory is the study of waiting lines. Four characteristics of a queuing system are: •the
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Long Queuing Time Pepper lunch restaurant is famous for providing hot‚ fast and delicious food to customers. It attracts many people to visit‚ no matter in peak hours or off peak hours. However Pepper Lunch Restaurant have a poor queuing for customers to buy their wanted dishes. According a servey‚ a customers said that when he buying a meal‚ he counted from queuing to get a meal on the get dishes area‚ it takes around 45minutes in peak hour while it takes at least 15 minutes in off peak hours.
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TOPIC VII QUEUING THEORY Definition A queue can be defined as items awaiting service. Queues may consist of people‚ cars‚ components awaiting machining‚ telephone calls‚ aeroplanes‚ indeed any discrete items. Queues form when the rate of arrival of items requiring service is greater than the rate of service. Queuing theory can be defined as the construction of mathematical models of various types of queuing systems so that predictions may be made about how the system works
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Problem 2: The following information is available for reconciling the Bank Statement of Texaco Company on December 31‚ 2000. (1) Cash account in ledger on 31 December should a balance of tk 12‚761.96. The Bank Statement on the same day indicated a balance of tk 9‚734.70. (2) Cash receipts of 31 December worth tk5.846.220 has been mailed to the bank on that date but did not appear among the deposits in the bank statement. (3) The paid cheque returned with the December Bank Statement disclosed
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