Queueing theory provides the mathematical framework to analyse and optimise systems where congestion and waiting times are inherent, while optimal pricing strategies focus on designing cost structures ...

Markov chains and queueing theory together provide a robust framework for analysing systems that evolve randomly over time. Markov chains describe stochastic processes where the future state depends ...

Let’s say you and your roommate have a little side business baking rhubarb pies at home and selling them on a street corner. Folks love pie, and you’re having trouble keeping up with demand. But you ...

This is a preview. Log in through your library . Abstract This paper presents a new class of queuing models. There are n distinct types of customers and n distinct types of service facilities. Some ...

Queueing theory—a mathematical framework that’s typically used to study, understand, and manage wait times and lines—is usually applied to improve efficiency in settings such as grocery stores, ...

This paper has been motivated by a fleet optimization problem faced by one of the leading European cargo rail companies. The company operates a fleet of more than 100,000 rail cars and annually ...