Queuing Theory and an Airline Problem
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Queuing theory is a branch of mathematics that deals with waiting lines and the economic impact of varying waiting times. There are many issues associated with airlines that may be analyzed using queuing theory techniques. For example, airport flow, departures, and delays are all queuing type problems. Less obvious is the practice of overbooking flights. Overbooking has become increasingly prominent in the news lately and promises to be susceptible to a queuing theory approach.