Solved: Queuing theory, Explain the application in detail, including the initial problem and the, Business Management

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Queuing theory

Assignment:

Question 1. Queuing theory has been used for many years to study the functional characteristics of operating systems. You have seen the M/M/1 model in detail. But the applications of the queuing theory in real life go far beyond a simple model. Provide an example of application of queuing theory in a business setting. Explain the application in detail, including the initial problem and the results of using the solution.

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