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 ...

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 ...

This is a preview. Log in through your library . Abstract This paper concerns performance modeling of semiconductor manufacturing operations. More specifically, it focuses on queueing network models ...

For more than five decades, Richard Larson, PhD, has shaped the field of operations research with a deep commitment to solving real-world problems. Since 1969, he has worked as a professor at the ...