|Join Earboard Forum / LOGIN! / Advertise / Contact Us|
Stats: 39799 members, 33278 topics. Cached on: Tuesday, 9th August 2022
Queing theory in economics
|Queing theory in economics by lasbrey20: 3:51 pm On July 29, 2018|
The situations where the arrived and departure problems can be seen: people waiting to deposit the electricity bills, flow of automobile traffic through a road network, queues formed at the ticket counters, people waiting to make deposits or withdrawals at bank, machines waiting to get repaired in the workshops, etc.
The waiting lines are formed due to the inefficiency of the service system to render immediate services to the customer when they arrive. If the customer has to wait for a long duration, it might lead to the frustration among them, the goodwill might get damaged, direct cost of idle server- in the case of poor coordination may arise, etc.
The demands of a person can only be met by increasing the service capacity, or enhancing the efficiency of the existing elements in the service systems. But however, adding too much capacity may be a costly affair as it may lead to the increased idle time on the part of the server in case of a few or no customers. Also, the setup cost would be too high.
Therefore, a manager has to decide the optimal level of service which is neither too high nor too low. The following elements should be kept in mind while designing the queuing system:
SPELL TO ATTRACT & BRING BACK LOST LOVE++27656444463 IN AMSTERDAM, LE CAP / SPELL TO ATTRACT & BRING BACK LOST LOVE++27656444463 IN AMSTERDAM, LE CAP / THE ONLY RIGHT WAY TO JOIN ILLUMINATI TODAY IN AFRICA+27790324557 JUBA, NAIROBI /
Sections: News (1) Technology Education (2)
Earboard - Copyright @ 2016 - 2022 Forumer. All rights reserved. See How To Advertise. DMCA Content Removal.
Disclaimer: Every member is solely responsible for anything that he/she posts or uploads on Earbaord.