Waiting Lines and Queuing Theory Models #1 | Basic Concepts with Examples

Covers concepts and examples of waiting lines and queuing theory models. Playlist:    • Introduction to Business Analytics   Topics 00:00 Introduction and examples 02:14 Waiting line 06:00 Example problem and solution 09:15 What are the characteristics of waiting line involving arrivals, queue, and service facility? 15:49 Single and multi phases and channels 20:00 QM for Windows 20:44 M/M/1 model, interpretation