Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Queue
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3. “ The theoretical study of waiting lines, expressed in mathematical terms--including components such as number of waiting lines, number of servers, average wait time, number of queues or lines, and probabilities of queue times' either increasing or decreasing ” .
4. Why queues form? Queues or waiting lines arise when the demand for a service facility exceeds the capacity of that facility, that is, the customers do not get service immediately upon request but must wait, or the service facilities stand idle and wait for customers. Some customers wait when the total number of customers requiring service exceeds the number of service facilities, some service facilities stand idle when the total number of service facilities exceeds the number of customers requiring service.
56. Solution... Probability of buffer overflow: = P(more than 13 packets in gateway) = ρ 13 = 0.25 13 = 1.49x10 -8 = 15 packets per billion packets To limit the probability of loss to less than 10 -6 :