Queuing model for single server system

Queuing theory is widely used and applied in the field of operations management. Decisions about resources and assets to deploy in service industries like banking, hospitality, travel and federal offices are based on applications of queuing theory. There are several queuing or waiting line models available which can be applied to specific situations.
This solution is part 1 in which single server queuing model is explained in detail with the example of a bank.

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