Accounting Dictionary - Letter Q

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Queuing theory
(also called waiting line theory) is a mathematical theory used to determine performance of technical systems that process flows of customers, materials, and so on. It is a system used to organize the flow of customers, materials, supplies, data, and other items through processes. Queuing theory is often used to find the optimal service level that balances the cost of services and customer satisfaction. For example, queuing theory can be used to determine the number of tellers in a bank, the number of representatives at a customer service center, and the number of cash registers at a store.
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