Vector Marketing A Case Study In Queueing Theory
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At some point in your life, you will have to wait in a line to receive a service. It could be waiting to pump gas at the gas station or waiting in the college bookstore to return your books at the end of the semester. It is estimated that Americans spend up to 37 billion hours per year waiting in lines. Queueing theory is the mathematical study of waiting lines, which exist whenever the demand for a service exceeds the capacity to provide that service at a given time. Vector Marketing is the marketing branch of CUTCO cutlery, a manufacturer of kitchen cutlery in the United States. This SIP takes data collected from Vector Marketing during the summer of 2019 and applies queueing theory to answer relevant questions. It is found that the average number of applicants in the system was 55, the servers were utilized 97.21% of the time, and the average wait time in the system was 5.48 minutes. A software program called Simio was used to simulate the queue and it produced results that were consistent with those calculated through theory.